In This Article:
The Canadian market remained flat over the last week, but it has seen a significant 21% rise over the past year, with earnings projected to grow by 16% annually. For investors willing to explore beyond established companies, penny stocks offer intriguing possibilities. Although the term may seem outdated, these smaller or newer companies can still provide a unique blend of affordability and growth potential when supported by strong financials.
Top 10 Penny Stocks In Canada
Name | Share Price | Market Cap | Financial Health Rating |
Alvopetro Energy (TSXV:ALV) | CA$4.74 | CA$173.17M | ★★★★★★ |
Amerigo Resources (TSX:ARG) | CA$1.71 | CA$275.23M | ★★★★★☆ |
Pulse Seismic (TSX:PSD) | CA$2.30 | CA$117.56M | ★★★★★★ |
Findev (TSXV:FDI) | CA$0.42 | CA$12.03M | ★★★★★☆ |
Mandalay Resources (TSX:MND) | CA$3.39 | CA$311.07M | ★★★★★★ |
PetroTal (TSX:TAL) | CA$0.64 | CA$584.03M | ★★★★★★ |
Winshear Gold (TSXV:WINS) | CA$0.18 | CA$5.66M | ★★★★★★ |
Foraco International (TSX:FAR) | CA$2.17 | CA$214.74M | ★★★★★☆ |
East West Petroleum (TSXV:EW) | CA$0.04 | CA$3.62M | ★★★★★★ |
NamSys (TSXV:CTZ) | CA$1.07 | CA$28.74M | ★★★★★★ |
Click here to see the full list of 964 stocks from our TSX Penny Stocks screener.
Let's take a closer look at a couple of our picks from the screened companies.
Prime Mining
Simply Wall St Financial Health Rating: ★★★★★☆
Overview: Prime Mining Corp. focuses on acquiring, exploring, and developing mineral resource properties in Mexico with a market cap of CA$227.90 million.
Operations: Prime Mining Corp. has not reported any revenue segments.
Market Cap: CA$227.9M
Prime Mining Corp. is a pre-revenue company with a focus on mineral resource development in Mexico, boasting a market cap of CA$227.90 million. The recent Mineral Resource Estimate highlights substantial growth in both open pit and underground resources, validating its strategy for high-recovery operations. Despite being debt-free and having experienced management, Prime remains unprofitable with significant insider selling noted recently. It has less than one year of cash runway but holds short-term assets exceeding liabilities by CA$20 million. Shareholders have faced dilution as the company continues to invest heavily in exploration and development activities at Los Reyes Project.
-
Click to explore a detailed breakdown of our findings in Prime Mining's financial health report.
-
Understand Prime Mining's earnings outlook by examining our growth report.
Arrow Exploration
Simply Wall St Financial Health Rating: ★★★★★★
Overview: Arrow Exploration Corp. is a junior oil and gas company focused on acquiring, exploring, developing, and producing oil and gas properties in Colombia and Western Canada, with a market cap of CA$112.92 million.