By the end of last week, markets rebounded from the lows, and the S&P 500 and Canadian TSX indexes were positive for the week after negative returns in March. Despite ongoing uncertainty and elevated oil prices, there are signs that de-escalation could ease pressures on global economies. In this context, penny stocks—though an older term—represent a unique investment area by offering growth potential at lower price points when backed by strong financials.
Top 10 Penny Stocks In Canada
| Name |
Share Price |
Market Cap |
Financial Health Rating |
| Cannara Biotech (TSX:LOVE) |
CA$1.85 |
CA$180.77M |
★★★★★★ |
| Sailfish Royalty (TSXV:FISH) |
CA$3.56 |
CA$279.32M |
★★★★★★ |
| Zoomd Technologies (TSXV:ZOMD) |
CA$0.90 |
CA$90.71M |
★★★★★★ |
| Montero Mining and Exploration (TSXV:MON) |
CA$0.61 |
CA$5.35M |
★★★★★★ |
| CEMATRIX (TSX:CEMX) |
CA$0.455 |
CA$68.17M |
★★★★★★ |
| Monument Mining (TSXV:MMY) |
CA$0.96 |
CA$328.8M |
★★★★★★ |
| Thor Explorations (TSXV:THX) |
CA$1.41 |
CA$959.87M |
★★★★★★ |
| Automotive Finco (TSXV:AFCC.H) |
CA$1.28 |
CA$25.77M |
★★★★★★ |
| Pulse Seismic (TSX:PSD) |
CA$4.03 |
CA$204.89M |
★★★★★★ |
| Caldwell Partners International (TSX:CWL) |
CA$0.80 |
CA$24.48M |
★★★★★★ |
Click here to see the full list of 330 stocks from our TSX Penny Stocks screener.
We'll examine a selection from our screener results.
Cannabix Technologies
Simply Wall St Financial Health Rating:★★★★★★
Overview:Cannabix Technologies Inc. is a technology company that develops marijuana and alcohol breathalyzer technologies for employers, law enforcement, workplaces, and laboratories in the United States, with a market cap of CA$88.26 million.
Operations:Cannabix Technologies Inc. has not reported any revenue segments.
Market Cap:CA$88.26M
Cannabix Technologies Inc., with a market cap of CA$88.26 million, is pre-revenue, reporting minimal sales and revenue figures. Recent developments include the first commercial sales of its Marijuana Breath Test (MBT) products to a major construction company in the Pacific Northwest, marking a significant step in its commercialization strategy. The MBT system detects recent cannabis use, addressing workplace safety needs. Despite being debt-free and having reduced losses over five years by 15.6% annually, Cannabix remains unprofitable with high share price volatility. It recently raised CA$700,000 through private placements to extend its cash runway beyond eight months.
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Jump into the full analysis health report here for a deeper understanding of Cannabix Technologies.
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Assess Cannabix Technologies' previous results with our detailed historical performance reports.
Cannara Biotech
Simply Wall St Financial Health Rating:★★★★★★
Overview:Cannara Biotech Inc., operating in Canada, focuses on the indoor cultivation, processing, and sale of cannabis and cannabis-derivative products, with a market cap of CA$180.77 million.
Operations:The company generates revenue primarily from Cannabis Operations, amounting to CA$108.13 million, and Real Estate Operations, contributing CA$3.86 million.
Market Cap:CA$180.77M
Cannara Biotech, with a market cap of CA$180.77 million, recently transitioned its primary listing to the Toronto Stock Exchange, signaling growth ambitions. The company reported first-quarter revenue of CA$30.11 million, up from CA$25.07 million a year earlier, though net income decreased to CA$1.04 million from CA$2.31 million due to increased expenses or operational challenges. A recent private placement raised CA$6.3 million at a premium price per share, reflecting investor confidence despite short-term earnings pressure and significant insider selling activity that may suggest internal liquidity needs or strategic shifts in shareholder composition.
Phenom Resources
Simply Wall St Financial Health Rating:★★★★★★
Overview:Phenom Resources Corp. focuses on the acquisition, exploration, and evaluation of mineral properties, with a market cap of CA$40.46 million.
Operations:Phenom Resources Corp. currently does not report any revenue segments.
Market Cap:CA$40.46M
Phenom Resources, with a market cap of CA$40.46 million, remains pre-revenue as it explores its Crescent Valley Gold Project in Nevada. Recent drilling campaigns have validated potential gold and rare earth deposits, yet the company faces high volatility and limited cash runway despite raising additional capital through private placements. The board's experienced tenure contrasts with an insufficiently seasoned management team, while stable shareholder structure indicates no significant dilution over the past year. Although unprofitable with negative return on equity, Phenom has reduced losses annually by 10.9%, suggesting disciplined cost management amid ongoing exploration efforts.
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Take a closer look at Phenom Resources' potential here in our financial health report.
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Gain insights into Phenom Resources' historical outcomes by reviewing our past performance report.
Where To Now?
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Access the full spectrum of 330 TSX Penny Stocks by clicking on this link.
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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 CNSX:BLO TSX:LOVE and TSXV:PHNM.
This article was originally published by Simply Wall St .
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