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TSX Penny Stocks With Market Caps Over CA$9M

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The Canadian market has been navigating a period of sideways consolidation, which may be acting as a corrective force against potential downturns, while investors focus on diversification and balance to manage volatility. Penny stocks, often representing smaller or newer companies, continue to offer intriguing growth opportunities despite their somewhat outdated label. By identifying those with strong financial health and solid fundamentals, investors can uncover potential gems that align with current market dynamics.

Top 10 Penny Stocks In Canada

Name

Share Price

Market Cap

Financial Health Rating

Alvopetro Energy (TSXV:ALV)

CA$4.72

CA$172.56M

★★★★★★

Findev (TSXV:FDI)

CA$0.50

CA$14.32M

★★★★★★

Mandalay Resources (TSX:MND)

CA$4.79

CA$449.82M

★★★★★★

PetroTal (TSX:TAL)

CA$0.69

CA$632.31M

★★★★★★

BluMetric Environmental (TSXV:BLM)

CA$0.97

CA$35.81M

★★★★★★

New Gold (TSX:NGD)

CA$3.93

CA$3.11B

★★★★★☆

NamSys (TSXV:CTZ)

CA$1.15

CA$30.89M

★★★★★★

Amerigo Resources (TSX:ARG)

CA$1.81

CA$298.08M

★★★★★☆

Foraco International (TSX:FAR)

CA$2.03

CA$200.35M

★★★★★☆

Orezone Gold (TSX:ORE)

CA$0.82

CA$379.19M

★★★★★☆

Click here to see the full list of 931 stocks from our TSX Penny Stocks screener.

We're going to check out a few of the best picks from our screener tool.

Eloro Resources

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

Overview: Eloro Resources Ltd. is involved in the exploration and development of mineral properties in Bolivia and Peru, with a market cap of CA$84.49 million.

Operations: Eloro Resources Ltd. does not report any revenue segments as it focuses on the exploration and development of mineral properties in Bolivia and Peru.

Market Cap: CA$84.49M

Eloro Resources is a pre-revenue company with a market cap of CA$84.49 million, focusing on mineral exploration in Bolivia and Peru. Recent drilling at the Iska Iska project revealed promising tin mineralization, suggesting potential for significant resource expansion with two distinct deposit styles: silver-zinc-lead and high-grade tin systems. Despite being debt-free, Eloro faces financial challenges with less than a year of cash runway and increasing losses over five years. The management team is experienced, but profitability remains elusive without near-term forecasts for positive earnings. These factors highlight both the opportunities and risks typical of penny stocks in the mining sector.

TSX:ELO Debt to Equity History and Analysis as at Mar 2025
TSX:ELO Debt to Equity History and Analysis as at Mar 2025

GoldMining

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