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3 Canadian Penny Stocks On TSX With Market Caps Up To CA$60M

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As we move into 2025, the Canadian market is navigating a complex landscape of inflationary pressures and shifting leadership dynamics, with the Bank of Canada focusing on growth risks. In this context, investors may find value in penny stocks—an investment area that continues to hold relevance despite its outdated name. These smaller or newer companies can offer surprising opportunities for growth, particularly when they possess solid financial foundations capable of weathering current economic challenges.

Top 10 Penny Stocks In Canada

Name

Share Price

Market Cap

Financial Health Rating

Alvopetro Energy (TSXV:ALV)

CA$4.875

CA$176.94M

★★★★★★

Findev (TSXV:FDI)

CA$0.52

CA$14.9M

★★★★★★

Mandalay Resources (TSX:MND)

CA$4.75

CA$442.31M

★★★★★★

PetroTal (TSX:TAL)

CA$0.70

CA$638.07M

★★★★★★

NamSys (TSXV:CTZ)

CA$1.19

CA$30.36M

★★★★★★

East West Petroleum (TSXV:EW)

CA$0.04

CA$4.07M

★★★★★★

Foraco International (TSX:FAR)

CA$2.03

CA$196.4M

★★★★★☆

New Gold (TSX:NGD)

CA$4.28

CA$3.26B

★★★★★☆

Orezone Gold (TSX:ORE)

CA$0.90

CA$416.12M

★★★★★☆

Hemisphere Energy (TSXV:HME)

CA$1.86

CA$183.5M

★★★★★☆

Click here to see the full list of 934 stocks from our TSX Penny Stocks screener.

Below we spotlight a couple of our favorites from our exclusive screener.

Minco Silver

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

Overview: Minco Silver Corporation focuses on the exploration, evaluation, and development of precious metal and mineral properties, with a market cap of CA$11.59 million.

Operations: Minco Silver Corporation has not reported any revenue segments.

Market Cap: CA$11.59M

Minco Silver Corporation, with a market cap of CA$11.59 million, is a pre-revenue entity focused on precious metals exploration. The company has maintained a debt-free status for the past five years and has not significantly diluted shareholders recently. Despite being unprofitable, it has reduced its losses by 71.4% annually over five years and possesses sufficient cash to sustain operations for over three years at current free cash flow growth rates. Its short-term assets of CA$40.8 million comfortably cover both short-term and long-term liabilities, indicating strong financial resilience amidst market volatility.

TSX:MSV Debt to Equity History and Analysis as at Feb 2025
TSX:MSV Debt to Equity History and Analysis as at Feb 2025

C-Com Satellite Systems

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

Overview: C-Com Satellite Systems Inc. develops and deploys mobile auto-deploying satellite-based technology for high-speed Internet, VoIP, and video services across various regions including Canada, Europe, the United States, Asia, the Kingdom of Saudi Arabia, and Kazakhstan with a market cap of CA$50.29 million.