The Canadian market has been experiencing a mix of momentum and uncertainty, influenced by global trade negotiations and economic growth concerns. In such a climate, investors might find value in exploring penny stocks—smaller or newer companies that can offer significant growth potential when backed by strong financials. Despite the term 'penny stock' feeling somewhat outdated, these investments continue to provide opportunities for discovering hidden value in quality companies.
Top 10 Penny Stocks In Canada
| Name | Share Price | Market Cap | Rewards & Risks |
| Westbridge Renewable Energy (TSXV:WEB) | CA$0.60 | CA$60.69M | ✅ 3 ⚠️ 3 View Analysis > |
| PetroTal (TSX:TAL) | CA$0.67 | CA$612.77M | ✅ 3 ⚠️ 4 View Analysis > |
| illumin Holdings (TSX:ILLM) | CA$1.82 | CA$93.91M | ✅ 4 ⚠️ 1 View Analysis > |
| Fintech Select (TSXV:FTEC) | CA$0.025 | CA$2M | ✅ 2 ⚠️ 3 View Analysis > |
| Findev (TSXV:FDI) | CA$0.425 | CA$12.18M | ✅ 2 ⚠️ 4 View Analysis > |
| Thor Explorations (TSXV:THX) | CA$0.76 | CA$505.63M | ✅ 3 ⚠️ 2 View Analysis > |
| Automotive Finco (TSXV:AFCC.H) | CA$1.00 | CA$19.82M | ✅ 2 ⚠️ 4 View Analysis > |
| Pulse Seismic (TSX:PSD) | CA$3.10 | CA$157.34M | ✅ 1 ⚠️ 1 View Analysis > |
| Hemisphere Energy (TSXV:HME) | CA$1.85 | CA$177.41M | ✅ 3 ⚠️ 1 View Analysis > |
| McChip Resources (TSXV:MCS) | CA$1.10 | CA$6.28M | ✅ 2 ⚠️ 4 View Analysis > |
Click here to see the full list of 453 stocks from our TSX Penny Stocks screener.
Let's take a closer look at a couple of our picks from the screened companies.
VerticalScope Holdings (TSX:FORA)
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: VerticalScope Holdings Inc. is a technology company that operates a cloud-based digital community platform for online enthusiast communities across the United States, Canada, the United Kingdom, and internationally, with a market cap of CA$89.17 million.
Operations: VerticalScope Holdings generates revenue primarily from its digital advertising and e-commerce segment, amounting to $67.89 million.
Market Cap: CA$89.17M
VerticalScope Holdings, with a market cap of CA$89.17 million, is navigating the penny stock landscape by leveraging its digital advertising and e-commerce revenue streams, which totaled US$67.89 million. Despite being unprofitable, the company has reduced losses over five years and maintains a strong balance sheet with over $60 million in liquidity. Recent leadership changes see Chris Goodridge as CEO, focusing on AI adoption and revenue diversification to enhance business resilience. The firm continues strategic acquisitions to bolster growth while maintaining financial stability through positive free cash flow and limited shareholder dilution.
- Jump into the full analysis health report here for a deeper understanding of VerticalScope Holdings.
- Evaluate VerticalScope Holdings' prospects by accessing our earnings growth report.
Haivision Systems (TSX:HAI)
Simply Wall St Financial Health Rating: ★★★★★★
Overview: Haivision Systems Inc. offers mission-critical, real-time video networking and visual collaboration solutions across Canada, the United States, and internationally, with a market cap of CA$124.77 million.
Operations: The company's revenue is primarily generated from its Internet Telephone segment, amounting to CA$123.24 million.
Market Cap: CA$124.77M
Haivision Systems, with a market cap of CA$124.77 million, is navigating the penny stock arena by focusing on real-time video networking solutions. Despite reporting a net loss of CA$2.39 million for Q2 2025, the company has improved its financial health by reducing its debt-to-equity ratio and maintaining more cash than total debt. Haivision's short-term assets significantly exceed both its short and long-term liabilities, ensuring liquidity stability. The company completed a share buyback program worth CA$1.85 million, indicating confidence in its valuation while it continues to manage positive free cash flow effectively over three years.
- Take a closer look at Haivision Systems' potential here in our financial health report.
- Learn about Haivision Systems' future growth trajectory here.
Santacruz Silver Mining (TSXV:SCZ)
Simply Wall St Financial Health Rating: ★★★★★★
Overview: Santacruz Silver Mining Ltd. is involved in the acquisition, exploration, development, and operation of mineral properties in Latin America and has a market cap of CA$341.62 million.
Operations: The company generates revenue from its operations at Porco ($42.35 million), Bolivar ($85.81 million), Zimapan ($90.38 million), SAN Lucas ($83.22 million), and Caballo Blanco Group ($73.23 million).
Market Cap: CA$341.62M
Santacruz Silver Mining Ltd., with a market cap of CA$341.62 million, has shown financial resilience by maintaining more cash than its total debt and covering interest payments 42 times over with EBIT. The company reported Q1 2025 sales of US$70.31 million, though net income dropped significantly from the previous year to US$9.45 million. Recent executive changes include appointing Mr. Andrés Bedregal as CFO, expected to enhance financial discipline and strategic growth initiatives. Despite high volatility and lower profit margins compared to last year, Santacruz remains undervalued at 88% below estimated fair value while continuing revenue growth is forecasted at 6.37% annually.
- Click here to discover the nuances of Santacruz Silver Mining with our detailed analytical financial health report.
- Review our growth performance report to gain insights into Santacruz Silver Mining's future.
Turning Ideas Into Actions
- Embark on your investment journey to our 453 TSX Penny Stocks selection here.
- Seeking Other Investments? We've found 18 US stocks that are forecast to pay a dividend yeild of over 6% next year. See the full list for free.
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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