In the last week, the Canadian market has been flat, but it is up 36% over the past year with earnings forecast to grow by 11% annually. For investors willing to explore beyond established names, penny stocks—often representing smaller or newer companies—can present intriguing opportunities. While the term 'penny stock' may seem outdated, these investments can still offer significant potential when backed by solid financials and balance sheet strength.
Top 10 Penny Stocks In Canada
| Name |
Share Price |
Market Cap |
Financial Health Rating |
| Cannara Biotech (TSX:LOVE) |
CA$1.82 |
CA$179.78M |
★★★★★★ |
| Zoomd Technologies (TSXV:ZOMD) |
CA$0.945 |
CA$95.25M |
★★★★★★ |
| Montero Mining and Exploration (TSXV:MON) |
CA$0.68 |
CA$5.68M |
★★★★★★ |
| CEMATRIX (TSX:CEMX) |
CA$0.54 |
CA$80.89M |
★★★★★★ |
| Monument Mining (TSXV:MMY) |
CA$0.88 |
CA$304.57M |
★★★★★★ |
| Covalon Technologies (TSXV:COV) |
CA$1.95 |
CA$53.86M |
★★★★★★ |
| Thor Explorations (TSXV:THX) |
CA$1.375 |
CA$916.54M |
★★★★★★ |
| Computer Modelling Group (TSX:CMG) |
CA$4.04 |
CA$321.22M |
★★★★★☆ |
| Pulse Seismic (TSX:PSD) |
CA$4.20 |
CA$213M |
★★★★★★ |
| Caldwell Partners International (TSX:CWL) |
CA$0.92 |
CA$27.14M |
★★★★★★ |
Click here to see the full list of 310 stocks from our TSX Penny Stocks screener.
Let's review some notable picks from our screened stocks.
Cartier Resources
Simply Wall St Financial Health Rating:★★★★★★
Overview:Cartier Resources Inc. is involved in acquiring and exploring mining properties in Canada, with a market cap of CA$109.26 million.
Operations:Currently, there are no reported revenue segments for the company.
Market Cap:CA$109.26M
Cartier Resources, with a market cap of CA$109.26 million, is focused on gold exploration at its Cadillac Project in Quebec. The company remains pre-revenue and reported a net loss of CA$4.34 million for 2025, an improvement from the previous year. Recent drilling results have uncovered promising high-grade gold zones within the Hope Sector and North Contact Zone, suggesting significant exploration potential. With no debt and sufficient cash runway exceeding one year, Cartier's strategic focus on expanding its resource base through extensive drilling programs positions it as a speculative opportunity in the mining sector.
Hemisphere Energy
Simply Wall St Financial Health Rating:★★★★★★
Overview:Hemisphere Energy Corporation is involved in the acquisition, exploration, development, and production of petroleum and natural gas properties in Canada with a market cap of CA$267.81 million.
Operations:The company generates revenue primarily from its petroleum and natural gas interests, amounting to CA$77.12 million.
Market Cap:CA$267.81M
Hemisphere Energy, with a market cap of CA$267.81 million, reported revenue of CA$76.73 million for 2025, slightly down from the previous year. Despite negative earnings growth recently, Hemisphere maintains high-quality earnings and a strong Return on Equity of 34.8%. The company is debt-free, which enhances financial stability and allows flexibility in operations. Its short-term assets cover both short- and long-term liabilities comfortably. Recent production guidance indicates stable output supported by strong oil pricing, while special dividends reflect shareholder returns focus. Trading at a favorable Price-To-Earnings ratio suggests potential value compared to peers in the industry.
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Dive into the specifics of Hemisphere Energy here with our thorough balance sheet health report.
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Review our growth performance report to gain insights into Hemisphere Energy's future.
Auxly Cannabis Group
Simply Wall St Financial Health Rating:★★★★★★
Overview:Auxly Cannabis Group Inc. is a consumer-packaged goods company focused on the cannabis products market in Canada with a market cap of CA$207.70 million.
Operations:The company generates revenue primarily from its Venture Capital segment, which amounts to CA$151.48 million.
Market Cap:CA$207.7M
Auxly Cannabis Group, with a market cap of CA$207.70 million, reported revenue of CA$151.48 million in 2025, marking profitability with a net income of CA$41.86 million compared to a previous loss. The company announced a share repurchase program to buy back up to 4.90% of its shares, reflecting confidence in its financial health and using cash resources effectively. Auxly's debt management has improved significantly over five years, reducing the debt-to-equity ratio from 59.4% to 26.1%. Despite anticipated earnings decline, the company's short-term assets surpass both short- and long-term liabilities comfortably.
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Take a closer look at Auxly Cannabis Group's potential here in our financial health report.
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Understand Auxly Cannabis Group's earnings outlook by examining our growth report.
Make It Happen
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Unlock more gems! Our TSX Penny Stocks screener has unearthed 307 more companies for you to explore.Click here to unveil our expertly curated list of 310 TSX Penny Stocks .
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Curious About Other Options? Diversify your portfolio with solid dividend payers offering reliable income streams to weather potential market turbulence.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include TSXV:ECR TSXV:HME and TSX:XLY.
This article was originally published by Simply Wall St .
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