In recent months, the Canadian market has faced contrasting economic signals, with a contraction in GDP and resilient consumer spending shaping investor sentiment. As financial conditions hint at potential easing by the Bank of Canada, interest in underappreciated sectors is growing. While often considered a term from bygone trading days, penny stocks continue to represent opportunities for growth at lower price points; when built on solid financials and fundamentals, these smaller or newer companies can offer investors a chance to uncover hidden value.
Top 10 Penny Stocks In Canada
| Name | Share Price | Market Cap | Rewards & Risks |
| Westbridge Renewable Energy (TSXV:WEB) | CA$2.20 | CA$55.63M | ✅ 3 ⚠️ 4 View Analysis > |
| Canso Select Opportunities (TSXV:CSOC.A) | CA$4.80 | CA$22.05M | ✅ 2 ⚠️ 2 View Analysis > |
| Montero Mining and Exploration (TSXV:MON) | CA$0.28 | CA$2.34M | ✅ 2 ⚠️ 4 View Analysis > |
| CEMATRIX (TSX:CEMX) | CA$0.305 | CA$45.81M | ✅ 2 ⚠️ 1 View Analysis > |
| Thor Explorations (TSXV:THX) | CA$1.15 | CA$765.09M | ✅ 3 ⚠️ 2 View Analysis > |
| Automotive Finco (TSXV:AFCC.H) | CA$1.01 | CA$20.02M | ✅ 2 ⚠️ 4 View Analysis > |
| Amerigo Resources (TSX:ARG) | CA$2.24 | CA$361.74M | ✅ 3 ⚠️ 2 View Analysis > |
| Pulse Seismic (TSX:PSD) | CA$4.08 | CA$207.08M | ✅ 2 ⚠️ 1 View Analysis > |
| Hemisphere Energy (TSXV:HME) | CA$1.97 | CA$187.48M | ✅ 3 ⚠️ 1 View Analysis > |
| Matachewan Consolidated Mines (TSXV:MCM.A) | CA$0.43 | CA$5.35M | ✅ 2 ⚠️ 4 View Analysis > |
Click here to see the full list of 406 stocks from our TSX Penny Stocks screener.
We'll examine a selection from our screener results.
Silver Grail Resources (TSXV:SVG)
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: Silver Grail Resources Ltd. is an exploration stage company focused on acquiring, exploring, and managing mineral properties in Canada, with a market cap of CA$8.05 million.
Operations: Silver Grail Resources Ltd. has not reported any revenue segments.
Market Cap: CA$8.05M
Silver Grail Resources Ltd., with a market cap of CA$8.05 million, remains pre-revenue and unprofitable, facing ongoing financial challenges. Recent earnings reports indicate a reduced net loss for the first quarter ended June 30, 2025 (CA$0.001138 million), yet auditors have expressed doubts about its ability to continue as a going concern. The company has less than one year of cash runway and no long-term liabilities, while short-term assets exceed liabilities by CA$33.4K. Despite these hurdles, shareholder dilution has been minimal over the past year and the board is experienced with an average tenure of 24.2 years.
- Take a closer look at Silver Grail Resources' potential here in our financial health report.
- Assess Silver Grail Resources' previous results with our detailed historical performance reports.
Transatlantic Mining (TSXV:TCO)
Simply Wall St Financial Health Rating: ★★★★★☆
Overview: Transatlantic Mining Corp. focuses on acquiring, exploring, and developing mineral properties in the United States with a market cap of CA$8.66 million.
Operations: Transatlantic Mining Corp. currently does not report any revenue segments.
Market Cap: CA$8.66M
Transatlantic Mining Corp., with a market cap of CA$8.66 million, is pre-revenue and recently reported a net income of CA$0.84 million for the first half of 2025, marking a turnaround from previous losses. The company has no debt and maintains an outstanding return on equity at 289.4%. Recent exploration at its Monitor Copper-Gold Project in Idaho shows promising copper mineralization, with high-grade samples indicating potential for future development. However, short-term liabilities exceed assets by CA$1.8 million, highlighting financial constraints despite stable weekly volatility and minimal shareholder dilution over the past year.
- Dive into the specifics of Transatlantic Mining here with our thorough balance sheet health report.
- Understand Transatlantic Mining's track record by examining our performance history report.
WonderFi Technologies (TSX:WNDR)
Simply Wall St Financial Health Rating: ★★★★★☆
Overview: WonderFi Technologies Inc, along with its subsidiaries, develops and acquires technology platforms to support investments in digital assets, with a market cap of CA$229.12 million.
Operations: The company generates revenue through its Trading segment, which accounts for CA$52.31 million, and its Payments segment, contributing CA$1.26 million.
Market Cap: CA$229.12M
WonderFi Technologies Inc., with a market cap of CA$229.12 million, is experiencing financial challenges as it remains unprofitable, reporting a net loss of CA$25.28 million for the first half of 2025 despite generating sales of CA$26.38 million. The company has more cash than total debt and its short-term assets exceed both short and long-term liabilities, providing some financial stability. However, losses have increased over the past five years and profitability is not expected in the near future. Recent earnings showed declining revenues compared to last year, while volatility has decreased significantly from previous levels.
- Jump into the full analysis health report here for a deeper understanding of WonderFi Technologies.
- Assess WonderFi Technologies' future earnings estimates with our detailed growth reports.
Where To Now?
- Gain an insight into the universe of 406 TSX Penny Stocks by clicking here.
- Ready To Venture Into Other Investment Styles? 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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