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The Canadian market has shown resilience, climbing 1.2% in the last week and posting a 28% gain over the past year, with earnings projected to grow by 16% annually. While penny stocks might seem like a relic from earlier market days, they continue to represent smaller or less-established companies that can offer significant value. By focusing on those with strong financials and clear growth potential, investors may uncover promising opportunities among these lesser-known stocks.
Top 10 Penny Stocks In Canada
| Name | Share Price | Market Cap | Financial Health Rating |
| PetroTal (TSX:TAL) | CA$0.67 | CA$620.84M | ★★★★★★ |
| Findev (TSXV:FDI) | CA$0.42 | CA$11.75M | ★★★★★☆ |
| Winshear Gold (TSXV:WINS) | CA$0.18 | CA$5.18M | ★★★★★★ |
| Mandalay Resources (TSX:MND) | CA$3.34 | CA$304.56M | ★★★★★★ |
| Pulse Seismic (TSX:PSD) | CA$2.37 | CA$116.65M | ★★★★★★ |
| Amerigo Resources (TSX:ARG) | CA$1.80 | CA$298.44M | ★★★★★☆ |
| Foraco International (TSX:FAR) | CA$2.37 | CA$236.62M | ★★★★★☆ |
| East West Petroleum (TSXV:EW) | CA$0.04 | CA$3.17M | ★★★★★★ |
| Newport Exploration (TSXV:NWX) | CA$0.115 | CA$12.14M | ★★★★★★ |
| NamSys (TSXV:CTZ) | CA$1.11 | CA$29.82M | ★★★★★★ |
Click here to see the full list of 948 stocks from our TSX Penny Stocks screener.
Here's a peek at a few of the choices from the screener.
Inventus Mining
Simply Wall St Financial Health Rating: ★★★★★★
Overview: Inventus Mining Corp. focuses on the acquisition, exploration, and development of mineral properties in Canada with a market cap of CA$7.56 million.
Operations: Inventus Mining Corp. does not report any revenue segments as it is primarily engaged in the acquisition, exploration, and development of mineral properties in Canada.
Market Cap: CA$7.56M
Inventus Mining Corp., with a market cap of CA$7.56 million, remains pre-revenue, focusing on mineral exploration in Canada. Despite its unprofitable status and high share price volatility, the company has managed to maintain short-term assets exceeding liabilities and is debt-free. Recently, Inventus announced significant management changes with experienced geologist Bill Fisher joining as Chairman and Wesley Whymark promoted to President. The company also initiated a private placement to raise up to CA$600,000 for further development, signaling potential growth opportunities despite current financial challenges. These strategic moves could influence investor sentiment amid ongoing exploration activities.
American Lithium
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: American Lithium Corp. is an exploration and development stage company focused on acquiring, exploring, and developing mineral properties in North and South America, with a market cap of CA$228.67 million.