Top TSX Penny Stocks With Market Caps Larger Than CA$8M

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The Canadian stock market has been buoyed by easing monetary policies and strong performances in financials and materials, contributing to solid returns. In this context, penny stocks—often representing smaller or newer companies—remain a relevant investment area despite the term's vintage feel. These stocks can offer surprising value and growth potential when underpinned by strong financials, making them worth exploring for investors seeking opportunities beyond the mainstream.

Top 10 Penny Stocks In Canada

Name

Share Price

Market Cap

Financial Health Rating

Alvopetro Energy (TSXV:ALV)

CA$4.56

CA$158.19M

★★★★★★

Amerigo Resources (TSX:ARG)

CA$1.66

CA$281.86M

★★★★★☆

Findev (TSXV:FDI)

CA$0.43

CA$12.32M

★★★★★★

Pulse Seismic (TSX:PSD)

CA$2.22

CA$115.5M

★★★★★★

PetroTal (TSX:TAL)

CA$0.60

CA$574.88M

★★★★★★

Mandalay Resources (TSX:MND)

CA$4.23

CA$374.78M

★★★★★★

Foraco International (TSX:FAR)

CA$2.34

CA$231.56M

★★★★★☆

Silvercorp Metals (TSX:SVM)

CA$4.51

CA$994.26M

★★★★★★

NamSys (TSXV:CTZ)

CA$1.10

CA$30.36M

★★★★★★

Winshear Gold (TSXV:WINS)

CA$0.16

CA$5.18M

★★★★★★

Click here to see the full list of 915 stocks from our TSX Penny Stocks screener.

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

Newport Exploration

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

Overview: Newport Exploration Ltd. is a natural resource company involved in acquiring and exploring resource properties in Canada and Australia, with a market cap of CA$8.45 million.

Operations: No revenue segments are reported for Newport Exploration Ltd.

Market Cap: CA$8.45M

Newport Exploration Ltd., with a market cap of CA$8.45 million, operates as a pre-revenue natural resource company, primarily involved in exploration activities. Despite its lack of significant revenue streams, the company reported net income of CA$1.92 million for the year ended July 31, 2024. Newport's outstanding return on equity at 74.7% and stable weekly volatility suggest financial resilience in a volatile sector. The absence of debt and long-term liabilities further strengthens its balance sheet position, while seasoned board members provide experienced oversight. However, declining earnings growth over recent years remains a concern for potential investors seeking growth opportunities in penny stocks.

TSXV:NWX Debt to Equity History and Analysis as at Dec 2024
TSXV:NWX Debt to Equity History and Analysis as at Dec 2024

QC Copper and Gold

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

Overview: QC Copper and Gold Inc. is a Canadian company focused on the exploration, development, and production of mineral properties, with a market cap of CA$20.92 million.