As the Bank of Canada prepares to hold interest rates steady at 2.25%, signs of cooling price pressures provide a modest boost to the Canadian economy. In such a climate, investors often look beyond large-cap stocks for opportunities, turning their attention to smaller or newer companies that might offer untapped potential. Penny stocks, despite being an outdated term, remain relevant as they highlight companies with robust financials and clear growth trajectories; we’ve identified three such stocks that could present compelling opportunities for those seeking hidden value in the market.

Top 10 Penny Stocks In Canada

Name	Share Price	Market Cap	Financial Health Rating
Westbridge Renewable Energy (TSXV:WEB)	CA$1.90	CA$50.05M	★★★★★★
Cannara Biotech (TSXV:LOVE)	CA$1.79	CA$171.45M	★★★★★★
Sailfish Royalty (TSXV:FISH)	CA$4.15	CA$320.27M	★★★★★★
Zoomd Technologies (TSXV:ZOMD)	CA$1.16	CA$117.93M	★★★★★★
Medexus Pharmaceuticals (TSX:MDP)	CA$2.84	CA$94.15M	★★★★☆☆
CEMATRIX (TSX:CEMX)	CA$0.35	CA$54.65M	★★★★★★
Thor Explorations (TSXV:THX)	CA$1.78	CA$1.2B	★★★★★★
Pulse Seismic (TSX:PSD)	CA$3.78	CA$192.72M	★★★★★★
Caldwell Partners International (TSX:CWL)	CA$0.90	CA$26.78M	★★★★★★
Hemisphere Energy (TSXV:HME)	CA$2.09	CA$196.18M	★★★★★★

Click here to see the full list of 369 stocks from our TSX Penny Stocks screener.

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

Green Shift Commodities

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

Overview: Green Shift Commodities Ltd. is engaged in the investment, exploration, and development of uranium, lithium, and battery commodity minerals in South America and Canada, with a market cap of CA$11.02 million.

Operations: Green Shift Commodities Ltd. has not reported any specific revenue segments.

Market Cap: CA$11.02M

Green Shift Commodities Ltd., with a market cap of CA$11.02 million, is pre-revenue and unprofitable, reflecting challenges common in exploratory sectors. Despite this, the company benefits from no debt and sufficient cash runway for over three years based on current free cash flow trends. The board of directors has an average tenure of 3.6 years, indicating experienced leadership. However, its share price remains highly volatile compared to most Canadian stocks, and its negative return on equity highlights ongoing profitability issues. Short-term assets exceed liabilities significantly, providing some financial stability amidst operational uncertainties.

• Click here and access our complete financial health analysis report to understand the dynamics of Green Shift Commodities.
• Explore historical data to track Green Shift Commodities’ performance over time in our past results report.

TSXV:GCOM Debt to Equity History and Analysis as at Jan 2026Lara Exploration

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

Overview: Lara Exploration Ltd. is engaged in the acquisition, exploration, development, and evaluation of mineral properties in Brazil, Peru, and Chile with a market cap of CA$128.79 million.

Operations: Lara Exploration Ltd. does not report any revenue segments.

Market Cap: CA$128.79M

Lara Exploration Ltd., with a market cap of CA$128.79 million, is pre-revenue and unprofitable, reflecting its focus on exploratory mining activities in South America. The company has no debt and maintains a cash runway for over a year under current conditions. Recent updates highlight potential resource expansion at the Atlantica exploration license in Brazil, with promising copper intersections identified through ongoing sampling efforts. Despite negative return on equity, experienced management and board leadership support strategic exploration initiatives. Short-term assets significantly exceed liabilities, offering financial stability as Lara advances its mineral projects toward development stages.

• Click to explore a detailed breakdown of our findings in Lara Exploration’s financial health report.
• Understand Lara Exploration’s track record by examining our performance history report.

TSXV:LRA Financial Position Analysis as at Jan 2026Nuvau Minerals

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

Overview: Nuvau Minerals Inc. focuses on acquiring, evaluating, and exploring mining properties in Canada, with a market cap of CA$51.27 million.

Operations: Nuvau Minerals Inc. currently does not report any specific revenue segments.

Market Cap: CA$51.27M

Nuvau Minerals Inc., with a market cap of CA$51.27 million, is pre-revenue and focuses on mining exploration in Canada. The company reported a net loss of CA$3.1 million for the recent quarter, reflecting its unprofitable status. Despite having no debt and short-term assets exceeding liabilities (CA$4.7M vs CA$3.1M), Nuvau faces financial challenges with less than a year of cash runway if current cash flow trends persist. Its board lacks experience, averaging 1.1 years in tenure, which may impact strategic direction as it navigates its exploratory phase without significant revenue streams.

• Click here to discover the nuances of Nuvau Minerals with our detailed analytical financial health report.
• Examine Nuvau Minerals’ past performance report to understand how it has performed in prior years.

TSXV:NMC Debt to Equity History and Analysis as at Jan 2026Summing It All Up

• Get an in-depth perspective on all 369 TSX Penny Stocks by using our screener here.
• Ready To Venture Into Other Investment Styles? Uncover 14 companies that survived and thrived after COVID and have the right ingredients to survive Trump’s tariffs.

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:GCOM TSXV:LRA and TSXV:NMC.

This article was originally published by Simply Wall St.

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