November 2024 TSX Penny Stocks To Watch

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The Canadian market has been navigating the aftermath of a decisive U.S. election, which has removed a significant source of uncertainty and contributed to record highs for indices like the TSX. As investors assess potential policy shifts, there remains an opportunity to focus on long-term fundamentals rather than short-term political changes. In this context, penny stocks—often smaller or newer companies—continue to offer intriguing growth opportunities despite being considered niche investments today. These stocks can provide value and growth potential when backed by strong financials, making them worth watching in the current market landscape.

Top 10 Penny Stocks In Canada

Name

Share Price

Market Cap

Financial Health Rating

PetroTal (TSX:TAL)

CA$0.67

CA$611.57M

★★★★★★

Amerigo Resources (TSX:ARG)

CA$1.67

CA$285.18M

★★★★★☆

Alvopetro Energy (TSXV:ALV)

CA$4.91

CA$182.67M

★★★★★★

Pulse Seismic (TSX:PSD)

CA$2.30

CA$116.54M

★★★★★★

Findev (TSXV:FDI)

CA$0.425

CA$11.75M

★★★★★☆

Vox Royalty (TSX:VOXR)

CA$3.65

CA$190.72M

★★★★★★

Winshear Gold (TSXV:WINS)

CA$0.155

CA$4.87M

★★★★★★

Foraco International (TSX:FAR)

CA$2.22

CA$237.5M

★★★★★☆

Mandalay Resources (TSX:MND)

CA$3.31

CA$317.69M

★★★★★★

East West Petroleum (TSXV:EW)

CA$0.035

CA$3.62M

★★★★★★

Click here to see the full list of 958 stocks from our TSX Penny Stocks screener.

Let's uncover some gems from our specialized screener.

Delota

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

Overview: Delota Corp. operates in the retail sector, focusing on various cannabis products in Canada, with a market cap of CA$4.08 million.

Operations: The company generates revenue from its Retail - Specialty segment, amounting to CA$37.88 million.

Market Cap: CA$4.08M

Delota Corp., with a market cap of CA$4.08 million, has shown improvement in its financial performance, reporting CA$9.76 million in sales for the second quarter of 2024, up from CA$8.3 million the previous year, and achieving a net income of CA$0.34 million compared to a loss previously. The company is expanding its retail footprint with new locations in Ontario and plans for strategic mergers and acquisitions to scale operations across Canada. Despite past shareholder dilution and high share price volatility, Delota maintains sufficient cash reserves to cover liabilities and support growth initiatives.

CNSX:NIC Debt to Equity History and Analysis as at Nov 2024
CNSX:NIC Debt to Equity History and Analysis as at Nov 2024

Trilogy AI

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

Overview: Trilogy AI Corp. operates as a consumer-packaged goods company in the United States with a market cap of CA$5.09 million.