In This Article:
The Canadian market is currently navigating potential changes in U.S. tax policy that could significantly impact dividend withholding taxes, a development that investors should monitor closely. Amid these broader economic discussions, the allure of penny stocks remains strong for those seeking affordable investment opportunities with growth potential. While the term "penny stocks" might seem outdated, these smaller or newer companies can offer substantial value when they boast solid financials and clear growth prospects.
Top 10 Penny Stocks In Canada
| Name | Share Price | Market Cap | Financial Health Rating |
| Westbridge Renewable Energy (TSXV:WEB) | CA$0.73 | CA$76.87M | ★★★★★★ |
| NTG Clarity Networks (TSXV:NCI) | CA$2.55 | CA$116.36M | ★★★★★★ |
| Intermap Technologies (TSX:IMP) | CA$2.31 | CA$125.8M | ★★★★★☆ |
| Orezone Gold (TSX:ORE) | CA$1.27 | CA$643.14M | ★★★★★☆ |
| Mandalay Resources (TSX:MND) | CA$5.00 | CA$484.67M | ★★★★★★ |
| McChip Resources (TSXV:MCS) | CA$0.80 | CA$4.57M | ★★★★★★ |
| Hemisphere Energy (TSXV:HME) | CA$1.79 | CA$168.18M | ★★★★★★ |
| PetroTal (TSX:TAL) | CA$0.59 | CA$558.14M | ★★★★★☆ |
| Pulse Seismic (TSX:PSD) | CA$2.60 | CA$133.49M | ★★★★★★ |
| Findev (TSXV:FDI) | CA$0.445 | CA$12.75M | ★★★★★★ |
Click here to see the full list of 901 stocks from our TSX Penny Stocks screener.
Let's review some notable picks from our screened stocks.
Hercules Metals
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: Hercules Metals Corp. is a junior mining company focused on the exploration and development of mineral properties in the United States, with a market cap of CA$170.11 million.
Operations: Hercules Metals Corp. currently has no reported revenue segments.
Market Cap: CA$170.11M
Hercules Metals Corp., a junior mining company with a market cap of CA$170.11 million, is currently pre-revenue and has no significant revenue streams. The company is actively pursuing its 2025 drilling campaign at the Hercules Project in Idaho, focusing on the Leviathan porphyry system. Recent developments include mobilizing additional drilling rigs to meet its 12,000-meter target and exploring high-priority zones based on a new 3D geological model. Despite these efforts, the company reported an increased net loss of CA$18.98 million for 2024 and faces auditor concerns about its ability to continue as a going concern due to financial challenges.
Grid Battery Metals
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: Grid Battery Metals Inc. is involved in the acquisition, exploration, and development of brine-based lithium and mineral resource properties in Canada and the United States, with a market cap of CA$15.46 million.