3 TSX Penny Stocks With Market Caps Under CA$200M To Watch

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The Canadian market has remained flat over the past week but is up 27% over the last year, with earnings projected to grow by 16% annually. In such a climate, identifying stocks that combine value and growth potential becomes crucial, especially among smaller or newer companies often labeled as penny stocks. Despite being somewhat of an outdated term, penny stocks can still offer substantial opportunities when supported by strong financials; this article will highlight several that stand out for their financial strength and potential for long-term success.

Top 10 Penny Stocks In Canada

Name

Share Price

Market Cap

Financial Health Rating

PetroTal (TSX:TAL)

CA$0.66

CA$620.8M

★★★★★★

Alvopetro Energy (TSXV:ALV)

CA$5.00

CA$183.06M

★★★★★★

Pulse Seismic (TSX:PSD)

CA$2.33

CA$119.2M

★★★★★★

Findev (TSXV:FDI)

CA$0.42

CA$12.03M

★★★★★☆

Winshear Gold (TSXV:WINS)

CA$0.16

CA$4.71M

★★★★★★

Mandalay Resources (TSX:MND)

CA$3.35

CA$314.9M

★★★★★★

Foraco International (TSX:FAR)

CA$2.44

CA$227.75M

★★★★★☆

Amerigo Resources (TSX:ARG)

CA$1.77

CA$290.15M

★★★★★☆

East West Petroleum (TSXV:EW)

CA$0.045

CA$3.17M

★★★★★★

Enterprise Group (TSX:E)

CA$2.12

CA$126.75M

★★★★☆☆

Click here to see the full list of 948 stocks from our TSX Penny Stocks screener.

Here we highlight a subset of our preferred stocks from the screener.

Telescope Innovations

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

Overview: Telescope Innovations Corp., with a market cap of CA$23.61 million, is a chemical technology company that develops manufacturing processes and tools for the pharmaceutical and chemical industries.

Operations: The company generates revenue from its Chemicals segment, amounting to CA$3.90 million.

Market Cap: CA$23.61M

Telescope Innovations Corp., with a market cap of CA$23.61 million, remains intriguing in the penny stock realm due to its strategic alliances and innovative approaches. The company recently announced successful collaborations with Standard Lithium Ltd. and Pfizer Inc., focusing on advanced battery materials and pharmaceutical R&D technologies, respectively. Despite being pre-revenue with CA$4 million in revenue from its Chemicals segment, Telescope's debt-free status and sufficient cash runway for over three years provide financial stability. However, it faces challenges such as negative return on equity and an inexperienced management team amidst ongoing unprofitability.

CNSX:TELI Debt to Equity History and Analysis as at Oct 2024
CNSX:TELI Debt to Equity History and Analysis as at Oct 2024

Pulse Seismic

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