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The Canadian market has shown resilience, with the TSX only 4% off its record high, buoyed by strong performances in sectors like materials. In such a climate, investors may find opportunities in penny stocks—an investment area that remains relevant despite its somewhat outdated name. These smaller or newer companies can offer a compelling mix of affordability and growth potential when backed by solid financials.
Top 10 Penny Stocks In Canada
Name | Share Price | Market Cap | Financial Health Rating |
Westbridge Renewable Energy (TSXV:WEB) | CA$0.60 | CA$60.69M | ★★★★★★ |
NTG Clarity Networks (TSXV:NCI) | CA$1.60 | CA$67.7M | ★★★★★★ |
Thor Explorations (TSXV:THX) | CA$0.61 | CA$405.83M | ★★★★☆☆ |
Orezone Gold (TSX:ORE) | CA$1.17 | CA$611.96M | ★★★★★☆ |
Amerigo Resources (TSX:ARG) | CA$1.74 | CA$285.52M | ★★★★★☆ |
PetroTal (TSX:TAL) | CA$0.56 | CA$512.4M | ★★★★★☆ |
Pulse Seismic (TSX:PSD) | CA$2.50 | CA$126.99M | ★★★★★★ |
McCoy Global (TSX:MCB) | CA$3.49 | CA$93.89M | ★★★★★★ |
Findev (TSXV:FDI) | CA$0.51 | CA$14.61M | ★★★★★★ |
BluMetric Environmental (TSXV:BLM) | CA$1.23 | CA$45.42M | ★★★★★★ |
Click here to see the full list of 928 stocks from our TSX Penny Stocks screener.
Let's uncover some gems from our specialized screener.
American Lithium
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: American Lithium Corp. is an exploration and development stage company focused on acquiring, exploring, and developing mineral properties in North and South America, with a market cap of CA$81.56 million.
Operations: Currently, there are no reported revenue segments for this exploration and development stage company.
Market Cap: CA$81.56M
American Lithium Corp., with a market cap of CA$81.56 million, remains pre-revenue, reflecting its status as an exploration and development stage company. The company's recent update on the Tonopah Lithium Claims project shows a 47% increase in Measured Resources, enhancing resource confidence. Despite having no debt and experienced management, American Lithium faces challenges with less than a year of cash runway and historical losses increasing at 21.3% per year over the past five years. Its short-term assets cover liabilities, but volatility remains high at 13%.
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Click to explore a detailed breakdown of our findings in American Lithium's financial health report.
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Understand American Lithium's track record by examining our performance history report.
Lithium Chile
Simply Wall St Financial Health Rating: ★★★★★★
Overview: Lithium Chile Inc. focuses on acquiring and developing lithium properties in Chile and Argentina, with a market cap of CA$123.92 million.
Operations: Currently, there are no reported revenue segments for the company.