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December 2024's Must-Watch Penny Stocks On TSX

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The Canadian market has been navigating a complex landscape, with recent shifts in bond yields suggesting potential opportunities for stronger performance in fixed-income investments. Against this backdrop, investors may find value in exploring penny stocks—often smaller or newer companies that can offer unique growth prospects. While the term "penny stocks" might seem outdated, these investments remain relevant for those seeking under-the-radar opportunities with strong financial foundations and potential for long-term success.

Top 10 Penny Stocks In Canada

Name

Share Price

Market Cap

Financial Health Rating

Findev (TSXV:FDI)

CA$0.445

CA$12.75M

★★★★★★

Mandalay Resources (TSX:MND)

CA$3.97

CA$372.82M

★★★★★★

Pulse Seismic (TSX:PSD)

CA$2.31

CA$117.44M

★★★★★★

Silvercorp Metals (TSX:SVM)

CA$4.32

CA$939.87M

★★★★★★

PetroTal (TSX:TAL)

CA$0.56

CA$510.73M

★★★★★★

Foraco International (TSX:FAR)

CA$2.28

CA$224.43M

★★★★★☆

East West Petroleum (TSXV:EW)

CA$0.04

CA$3.62M

★★★★★★

NamSys (TSXV:CTZ)

CA$1.25

CA$33.58M

★★★★★★

Hemisphere Energy (TSXV:HME)

CA$1.79

CA$174.58M

★★★★★☆

Enterprise Group (TSX:E)

CA$1.89

CA$116.34M

★★★★☆☆

Click here to see the full list of 959 stocks from our TSX Penny Stocks screener.

Let's review some notable picks from our screened stocks.

Quipt Home Medical

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

Overview: Quipt Home Medical Corp. operates through its subsidiaries to provide durable and home medical equipment and supplies in the United States, with a market cap of CA$162.02 million.

Operations: The company generates revenue primarily from its PHM segment, amounting to $245.92 million.

Market Cap: CA$162.02M

Quipt Home Medical, with a market cap of CA$162.02 million, operates in the U.S. home medical equipment sector and reported US$245.92 million in revenue for 2024, up from US$211.68 million the previous year. Despite this growth, the company remains unprofitable with a net loss of US$6.76 million and has experienced shareholder dilution over the past year due to increased shares outstanding by 2.3%. However, Quipt benefits from a seasoned management team and board of directors, sufficient cash runway for over three years due to positive free cash flow growth, and is trading at good value compared to peers.

TSX:QIPT Financial Position Analysis as at Dec 2024
TSX:QIPT Financial Position Analysis as at Dec 2024

PetroTal

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

Overview: PetroTal Corp. is involved in the development and exploration of oil and natural gas in Peru, South America, with a market cap of CA$510.73 million.