3 TSX Penny Stocks With Market Caps Under CA$400M

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The Canadian market has shown positive momentum, rising 1.4% in the last week and climbing 28% over the past year, with earnings projected to grow by 16% annually. While the term "penny stocks" might seem outdated, these investments continue to offer intriguing opportunities for growth at lower price points when they are supported by strong balance sheets and solid fundamentals. This article explores several penny stocks that stand out as potential hidden gems within this evolving market landscape.

Top 10 Penny Stocks In Canada

Name

Share Price

Market Cap

Financial Health Rating

PetroTal (TSX:TAL)

CA$0.68

CA$620.88M

★★★★★★

Findev (TSXV:FDI)

CA$0.41

CA$11.75M

★★★★★☆

Winshear Gold (TSXV:WINS)

CA$0.14

CA$4.4M

★★★★★★

Mandalay Resources (TSX:MND)

CA$3.16

CA$297.04M

★★★★★★

Pulse Seismic (TSX:PSD)

CA$2.35

CA$119.71M

★★★★★★

Amerigo Resources (TSX:ARG)

CA$1.83

CA$303.72M

★★★★★☆

Foraco International (TSX:FAR)

CA$2.25

CA$221.84M

★★★★★☆

East West Petroleum (TSXV:EW)

CA$0.035

CA$3.17M

★★★★★★

Newport Exploration (TSXV:NWX)

CA$0.115

CA$12.14M

★★★★★★

NamSys (TSXV:CTZ)

CA$1.15

CA$30.89M

★★★★★★

Click here to see the full list of 947 stocks from our TSX Penny Stocks screener.

We're going to check out a few of the best picks from our screener tool.

Avino Silver & Gold Mines

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

Overview: Avino Silver & Gold Mines Ltd. is involved in the acquisition, exploration, and development of mineral properties in Canada, with a market cap of CA$251.94 million.

Operations: The company generates revenue from its Metals & Mining segment, specifically in Gold & Other Precious Metals, amounting to $52.03 million.

Market Cap: CA$251.94M

Avino Silver & Gold Mines Ltd. has shown significant earnings growth, with a 68.5% increase over the past year, surpassing the industry average. The company maintains a strong financial position with more cash than total debt and excellent interest coverage. Recent operational results indicate increased production in silver and copper compared to last year, although gold production has declined slightly. Avino's inclusion in the S&P Global BMI Index underscores its growing recognition within the market. However, shareholders have experienced dilution over the past year, which may be a concern for some investors seeking stability in share value.

TSX:ASM Debt to Equity History and Analysis as at Oct 2024
TSX:ASM Debt to Equity History and Analysis as at Oct 2024

Aldebaran Resources

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

Overview: Aldebaran Resources Inc. is involved in acquiring, exploring, and evaluating mineral properties in Canada and Argentina, with a market cap of CA$229.38 million.