TSX Penny Stocks To Consider In March 2025

The Canadian market has been navigating a complex landscape, with recent U.S. tariff threats and domestic political uncertainties contributing to cautious investor sentiment. Despite these challenges, the pursuit of growth opportunities remains a priority for many investors. Penny stocks, often associated with smaller or newer companies, continue to offer intriguing possibilities for those seeking potential upside at lower price points when backed by strong financial health.

Top 10 Penny Stocks In Canada

Name	Share Price	Market Cap	Financial Health Rating
Alvopetro Energy (TSXV:ALV)	CA$4.62	CA$168.17M	★★★★★★
Mandalay Resources (TSX:MND)	CA$4.84	CA$450.76M	★★★★★★
NTG Clarity Networks (TSXV:NCI)	CA$1.86	CA$86.42M	★★★★★☆
Findev (TSXV:FDI)	CA$0.50	CA$14.32M	★★★★★★
PetroTal (TSX:TAL)	CA$0.63	CA$577.33M	★★★★★★
McCoy Global (TSX:MCB)	CA$2.58	CA$79.37M	★★★★★★
BluMetric Environmental (TSXV:BLM)	CA$1.08	CA$39.87M	★★★★★★
New Gold (TSX:NGD)	CA$4.01	CA$3.28B	★★★★★☆
ACT Energy Technologies (TSX:ACX)	CA$4.97	CA$180.04M	★★★★★☆
Orezone Gold (TSX:ORE)	CA$0.82	CA$379.19M	★★★★★☆

Click here to see the full list of 938 stocks from our TSX Penny Stocks screener.

Let's take a closer look at a couple of our picks from the screened companies.

Canadian North Resources (TSXV:CNRI)

Simply Wall St Financial Health Rating: ★★★★☆☆

Overview: Canadian North Resources Inc. focuses on the exploration and development of mineral properties in Canada, with a market cap of CA$114.41 million.

Operations: Currently, there are no reported revenue segments for the company.

Market Cap: CA$114.41M

Canadian North Resources Inc. is a pre-revenue company focusing on mineral exploration, recently advancing its bio-leaching technology for the Ferguson Lake Project with promising extraction rates for nickel and cobalt. Despite no significant revenue, the company maintains a debt-free status and has short-term assets exceeding liabilities, though it faces less than a year of cash runway if current cash flow trends continue. The management and board are experienced, with stable shareholder positions over the past year. Recent share buybacks indicate some confidence in long-term prospects despite ongoing losses and unprofitability challenges.

• Dive into the specifics of Canadian North Resources here with our thorough balance sheet health report.
• Evaluate Canadian North Resources' historical performance by accessing our past performance report.

Quorum Information Technologies (TSXV:QIS)

Simply Wall St Financial Health Rating: ★★★★☆☆

Overview: Quorum Information Technologies Inc. is an information technology company that specializes in serving the automotive retail industry in Canada and the United States, with a market cap of CA$70.65 million.

Operations: The company's revenue is derived from three main segments: Services and One-Time (CA$1.19 million), Software as a Service (SaaS) (CA$28.67 million), and Business Development Centre (BDC) (CA$10.00 million).

Market Cap: CA$70.65M

Quorum Information Technologies Inc., with a market cap of CA$70.65 million, shows a mixed financial picture typical of penny stocks. The company has demonstrated consistent revenue streams across its SaaS (CA$28.67 million), Services and One-Time (CA$1.19 million), and BDC (CA$10 million) segments, supporting its operational stability. Despite an improved net profit margin from last year, interest coverage remains below ideal levels at 2.5 times EBIT, indicating potential pressure on debt servicing capabilities. While earnings growth has decelerated recently compared to historical averages, the company's debt management is robust with satisfactory coverage by operating cash flow and reduced leverage over five years.

• Click here to discover the nuances of Quorum Information Technologies with our detailed analytical financial health report.
• Assess Quorum Information Technologies' future earnings estimates with our detailed growth reports.

Radius Gold (TSXV:RDU)

Simply Wall St Financial Health Rating: ★★★★★★

Overview: Radius Gold Inc. is involved in the acquisition and exploration of mineral properties, with a market cap of CA$16.11 million.

Operations: Radius Gold Inc. does not report any revenue segments, as it is focused on the acquisition and exploration of mineral properties.

Market Cap: CA$16.11M

Radius Gold Inc., with a market cap of CA$16.11 million, operates as a pre-revenue entity focused on mineral exploration, which is common among penny stocks. The company is debt-free and has effectively managed its short-term liabilities with assets totaling CA$1.1 million against liabilities of CA$262.9K. Recent developments include resumed exploration at the Holly Property in Guatemala and significant expansion potential at the Tierra Roja copper project in Peru, where it secured an exclusivity agreement for additional land and advanced drill permitting processes. These strategic moves highlight Radius Gold's focus on expanding its resource base amid high volatility in share price movements.

• Get an in-depth perspective on Radius Gold's performance by reading our balance sheet health report here.
• Examine Radius Gold's past performance report to understand how it has performed in prior years.

Key Takeaways

• Embark on your investment journey to our 938 TSX Penny Stocks selection here.
• Invested in any of these stocks? Simplify your portfolio management with Simply Wall St and stay ahead with our alerts for any critical updates on your stocks.
• Discover a world of investment opportunities with Simply Wall St's free app and access unparalleled stock analysis across all markets.

Interested In Other Possibilities?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
• Jump on the AI train with fast growing tech companies forging a new era of innovation.
• Find companies with promising cash flow potential yet trading below their fair value.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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