As the Canadian economy faces a contraction in GDP and potential monetary easing by the Bank of Canada, investors are eyeing opportunities in less conventional areas of the market. Penny stocks, although an older term, still capture interest due to their potential for growth and value, especially when backed by strong financials. This article will explore three such stocks that present intriguing opportunities for those looking beyond traditional investments.
Top 10 Penny Stocks In Canada
| Name | Share Price | Market Cap | Rewards & Risks |
| Westbridge Renewable Energy (TSXV:WEB) | CA$2.20 | CA$56.14M | ✅ 3 ⚠️ 4 View Analysis > |
| Canso Select Opportunities (TSXV:CSOC.A) | CA$4.80 | CA$22.99M | ✅ 2 ⚠️ 2 View Analysis > |
| Montero Mining and Exploration (TSXV:MON) | CA$0.295 | CA$2.34M | ✅ 2 ⚠️ 4 View Analysis > |
| CEMATRIX (TSX:CEMX) | CA$0.295 | CA$45.06M | ✅ 2 ⚠️ 1 View Analysis > |
| Thor Explorations (TSXV:THX) | CA$1.28 | CA$791.7M | ✅ 3 ⚠️ 2 View Analysis > |
| Automotive Finco (TSXV:AFCC.H) | CA$1.01 | CA$20.02M | ✅ 2 ⚠️ 4 View Analysis > |
| Amerigo Resources (TSX:ARG) | CA$2.29 | CA$377.89M | ✅ 3 ⚠️ 2 View Analysis > |
| Pulse Seismic (TSX:PSD) | CA$3.80 | CA$195.41M | ✅ 2 ⚠️ 1 View Analysis > |
| Hemisphere Energy (TSXV:HME) | CA$1.97 | CA$184.63M | ✅ 3 ⚠️ 1 View Analysis > |
| Matachewan Consolidated Mines (TSXV:MCM.A) | CA$0.50 | CA$5.66M | ✅ 2 ⚠️ 4 View Analysis > |
Click here to see the full list of 406 stocks from our TSX Penny Stocks screener.
Let's take a closer look at a couple of our picks from the screened companies.
Surge Battery Metals (TSXV:NILI)
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: Surge Battery Metals Inc. is an exploration stage company focused on acquiring, exploring, and developing mineral properties in North America, with a market cap of CA$43.84 million.
Operations: Surge Battery Metals Inc. does not currently report any revenue segments.
Market Cap: CA$43.84M
Surge Battery Metals Inc., with a market cap of CA$43.84 million, remains pre-revenue and unprofitable, despite recent positive developments in its Nevada North Lithium Project. The company reported a net loss for the first half of 2025 but showed improvement from the previous year. Recent assays revealed significant rubidium and cesium mineralization alongside lithium, enhancing its resource potential. However, financial stability is concerning with less than a year of cash runway and no debt to leverage. The management team is experienced but the board lacks tenure depth, which may impact strategic decision-making as they advance their projects.
- Click to explore a detailed breakdown of our findings in Surge Battery Metals' financial health report.
- Assess Surge Battery Metals' previous results with our detailed historical performance reports.
NeoTerrex Minerals (TSXV:NTX)
Simply Wall St Financial Health Rating: ★★★★★★
Overview: NeoTerrex Minerals Inc. focuses on the evaluation, acquisition, and exploration of mineral properties in Canada with a market cap of CA$17.79 million.
Operations: NeoTerrex Minerals Inc. has not reported any revenue segments.
Market Cap: CA$17.79M
NeoTerrex Minerals Inc., with a market cap of CA$17.79 million, is pre-revenue and unprofitable, focusing on mineral exploration in Canada. Recent developments include the successful completion of Phase I at its Revolver rare earth elements project in Quebec, identifying 21 new occurrences and prioritizing zones for further exploration. The company maintains financial stability with no debt and approximately CA$3 million in working capital, supporting ongoing projects like Gravitas and Galactic. Despite high volatility in share price, NeoTerrex's strategic multi-project approach aims to secure critical metals supply for Western markets amidst pending assay results from recent explorations.
- Get an in-depth perspective on NeoTerrex Minerals' performance by reading our balance sheet health report here.
- Gain insights into NeoTerrex Minerals' historical outcomes by reviewing our past performance report.
EarthLabs (TSXV:SPOT)
Simply Wall St Financial Health Rating: ★★★★★☆
Overview: EarthLabs Inc. is a Canadian company engaged in mining investment, technology, and media operations with a market cap of CA$27.76 million.
Operations: The company's revenue is derived from its Financial Technology segment, which generated CA$7.83 million.
Market Cap: CA$27.76M
EarthLabs Inc. has shown significant improvement in its financial performance, reporting second-quarter revenue of CA$8.66 million, a notable increase from CA$1.56 million the previous year. The company achieved a net income of CA$5.22 million, reversing a net loss of CA$1.96 million from the same period last year, with earnings per share rising to CA$0.04. Despite being unprofitable over the past five years with increasing losses and volatility at 12%, EarthLabs remains financially stable with short-term assets covering liabilities and no meaningful shareholder dilution recently, supported by an experienced management team and board of directors.
- Click here to discover the nuances of EarthLabs with our detailed analytical financial health report.
- Review our historical performance report to gain insights into EarthLabs' track record.
Make It Happen
- Explore the 406 names from our TSX Penny Stocks screener here.
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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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