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The Canadian market has shown resilience, with the TSX only 4% off its record high, buoyed by a strong performance in the materials sector. As investors navigate this period of market recovery and uncertainty, penny stocks—despite their somewhat outdated name—remain an intriguing investment area for those seeking opportunities in smaller or newer companies. When backed by solid financials, these stocks can offer a mix of value and growth potential that might not be as readily available in larger firms.
Top 10 Penny Stocks In Canada
| Name | Share Price | Market Cap | Financial Health Rating |
| Westbridge Renewable Energy (TSXV:WEB) | CA$0.73 | CA$73.84M | ★★★★★★ |
| NTG Clarity Networks (TSXV:NCI) | CA$1.62 | CA$69.39M | ★★★★★★ |
| Thor Explorations (TSXV:THX) | CA$0.63 | CA$425.79M | ★★★★☆☆ |
| Orezone Gold (TSX:ORE) | CA$1.11 | CA$575.35M | ★★★★★☆ |
| Amerigo Resources (TSX:ARG) | CA$1.73 | CA$287.16M | ★★★★★☆ |
| PetroTal (TSX:TAL) | CA$0.59 | CA$530.7M | ★★★★★☆ |
| Pulse Seismic (TSX:PSD) | CA$2.61 | CA$129.53M | ★★★★★★ |
| McCoy Global (TSX:MCB) | CA$3.39 | CA$92.28M | ★★★★★★ |
| Findev (TSXV:FDI) | CA$0.45 | CA$14.04M | ★★★★★★ |
| BluMetric Environmental (TSXV:BLM) | CA$1.23 | CA$47.27M | ★★★★★★ |
Click here to see the full list of 927 stocks from our TSX Penny Stocks screener.
Here we highlight a subset of our preferred stocks from the screener.
American Pacific Mining
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: American Pacific Mining Corp. focuses on exploring and developing precious and base metals in the Western United States, with a market cap of CA$44.91 million.
Operations: American Pacific Mining Corp. has not reported any revenue segments.
Market Cap: CA$44.91M
American Pacific Mining Corp., with a market cap of CA$44.91 million, is currently pre-revenue and focuses on precious and base metals exploration in the Western U.S. Recent developments include the commencement of a 3,000-metre drill program at its Madison Copper-Gold Project in Montana, targeting high-impact areas with potential for significant mineralization. The company is debt-free but faces financial constraints with less than a year of cash runway based on current free cash flow. Despite being unprofitable and experiencing increased losses over five years, it leverages experienced management to explore district-scale opportunities at Madison.
Questerre Energy
Simply Wall St Financial Health Rating: ★★★★★☆
Overview: Questerre Energy Corporation is an energy technology and innovation company focused on acquiring, exploring, and developing non-conventional oil and gas projects in Canada, with a market cap of CA$111.41 million.