The Canadian stock market is experiencing a robust year, with the TSX index up more than 17%, reflecting a broader trend of economic growth and favorable central bank policies. In this context, penny stocks—often representing smaller or newer companies—remain an intriguing investment area due to their affordability and potential for growth. While the term “penny stocks” may seem outdated, these investments can still offer significant opportunities when backed by strong financial health.
|
Name |
Share Price |
Market Cap |
Financial Health Rating |
|
PetroTal (TSX:TAL) |
CA$0.68 |
CA$611.71M |
★★★★★★ |
|
Alvopetro Energy (TSXV:ALV) |
CA$5.00 |
CA$184.89M |
★★★★★★ |
|
Pulse Seismic (TSX:PSD) |
CA$2.34 |
CA$120.73M |
★★★★★★ |
|
Findev (TSXV:FDI) |
CA$0.42 |
CA$11.75M |
★★★★★☆ |
|
Winshear Gold (TSXV:WINS) |
CA$0.15 |
CA$5.66M |
★★★★★★ |
|
Mandalay Resources (TSX:MND) |
CA$3.35 |
CA$313.96M |
★★★★★★ |
|
Foraco International (TSX:FAR) |
CA$2.31 |
CA$233.67M |
★★★★★☆ |
|
Amerigo Resources (TSX:ARG) |
CA$1.75 |
CA$298.44M |
★★★★★☆ |
|
NamSys (TSXV:CTZ) |
CA$1.15 |
CA$29.82M |
★★★★★★ |
|
Enterprise Group (TSX:E) |
CA$2.07 |
CA$132.27M |
★★★★☆☆ |
Click here to see the full list of 947 stocks from our TSX Penny Stocks screener.
Let’s dive into some prime choices out of the screener.
Simply Wall St Financial Health Rating: ★★★★★★
Overview: Cannabix Technologies Inc. is a technology company that develops marijuana and alcohol breathalyzers for employers, law enforcement, workplaces, and laboratories in the United States with a market cap of CA$52.97 million.
Operations: No revenue segments have been reported for this company.
Market Cap: CA$52.97M
Cannabix Technologies, with a market cap of CA$52.97 million, is currently pre-revenue and unprofitable but shows potential in its development of innovative alcohol screening devices. The company has no debt and maintains a stable cash runway for over a year, supported by experienced management and board members. Recent advancements include discussions with Smartox for potential distribution of its Breath Logix device in the U.S., which features unique technology aimed at enhancing workplace safety through efficient alcohol testing. Despite increased losses reported recently, these strategic moves could position Cannabix for future growth in the breathalyzer market.
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: Adastra Holdings Ltd. is involved in the extraction and processing of cannabis for both recreational and medical markets in Canada, with a market cap of CA$3.30 million.
