3 TSX Penny Stocks With Market Caps Over CA$20M

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As we move through the early months of the year, Canadian markets are navigating a complex landscape marked by persistent inflation and solid corporate earnings. Amid these crosscurrents, investors are increasingly looking for opportunities that balance potential growth with financial stability. While penny stocks might seem like a term from another era, they continue to offer intriguing possibilities, particularly when these smaller or newer companies demonstrate strong fundamentals. In this article, we explore three such penny stocks on the TSX that could provide promising prospects for those seeking to uncover hidden value in today's market conditions.

Top 10 Penny Stocks In Canada

Name

Share Price

Market Cap

Financial Health Rating

Alvopetro Energy (TSXV:ALV)

CA$4.875

CA$176.94M

★★★★★★

Findev (TSXV:FDI)

CA$0.52

CA$14.9M

★★★★★★

Mandalay Resources (TSX:MND)

CA$4.75

CA$442.31M

★★★★★★

PetroTal (TSX:TAL)

CA$0.70

CA$638.07M

★★★★★★

NamSys (TSXV:CTZ)

CA$1.19

CA$30.36M

★★★★★★

East West Petroleum (TSXV:EW)

CA$0.04

CA$4.07M

★★★★★★

Orezone Gold (TSX:ORE)

CA$0.90

CA$416.12M

★★★★★☆

New Gold (TSX:NGD)

CA$4.28

CA$3.26B

★★★★★☆

Foraco International (TSX:FAR)

CA$2.03

CA$196.4M

★★★★★☆

DIRTT Environmental Solutions (TSX:DRT)

CA$1.15

CA$222.42M

★★★★☆☆

Click here to see the full list of 933 stocks from our TSX Penny Stocks screener.

Let's review some notable picks from our screened stocks.

Inflection Resources

Simply Wall St Financial Health Rating: ★★★★☆☆

Overview: Inflection Resources Ltd. is involved in the exploration and evaluation of mineral properties in New South Wales and Queensland, Australia, with a market cap of CA$24.27 million.

Operations: Inflection Resources Ltd. currently does not report any revenue segments.

Market Cap: CA$24.27M

Inflection Resources Ltd., with a market cap of CA$24.27 million, is pre-revenue and currently unprofitable, reporting a net loss of CA$2.9 million for the year ended September 30, 2024. Despite having no debt and short-term assets covering liabilities, it faces auditor concerns about its ability to continue as a going concern due to less than one year of cash runway. Recent drilling updates from projects in New South Wales indicate promising mineralization potential in collaboration with AngloGold Ashanti but highlight the company's high share price volatility and financial instability challenges.

CNSX:AUCU Debt to Equity History and Analysis as at Feb 2025
CNSX:AUCU Debt to Equity History and Analysis as at Feb 2025

GoGold Resources

Simply Wall St Financial Health Rating: ★★★★★★

Overview: GoGold Resources Inc. is involved in the exploration, development, and production of silver, gold, and copper mainly in Mexico with a market cap of CA$526.25 million.