Discover February 2025's Top Penny Stocks On The TSX

As the Canadian market navigates a landscape of fluctuating bond yields and evolving interest rate expectations, investors are keenly observing how these factors might influence stock valuations. Penny stocks, though often considered a niche investment category, continue to offer intriguing opportunities for growth, particularly within smaller or newer companies. By focusing on those with strong financial health and potential for long-term growth, investors can uncover promising prospects in this often overlooked segment of the market.

Top 10 Penny Stocks In Canada
Name Share Price Market Cap Financial Health Rating
Silvercorp Metals (TSX:SVM) CA$4.53 CA$976.85M ★★★★★★
Mandalay Resources (TSX:MND) CA$4.14 CA$401.93M ★★★★★★
Pulse Seismic (TSX:PSD) CA$2.43 CA$122.01M ★★★★★★
Findev (TSXV:FDI) CA$0.50 CA$14.32M ★★★★★★
PetroTal (TSX:TAL) CA$0.73 CA$651.02M ★★★★★★
Foraco International (TSX:FAR) CA$2.33 CA$222.46M ★★★★★☆
NamSys (TSXV:CTZ) CA$1.11 CA$32.24M ★★★★★★
East West Petroleum (TSXV:EW) CA$0.035 CA$3.62M ★★★★★★
Hemisphere Energy (TSXV:HME) CA$1.85 CA$179.61M ★★★★★☆
Tornado Infrastructure Equipment (TSXV:TGH) CA$1.00 CA$137.56M ★★★★★☆

Let's review some notable picks from our screened stocks.
GoGold Resources
Simply Wall St Financial Health Rating: ★★★★★★
Overview: GoGold Resources Inc. focuses on the exploration, development, and production of silver, gold, and copper primarily in Mexico with a market cap of CA$467.93 million.
Operations: The company generates revenue from its Metals & Mining segment, specifically in Gold & Other Precious Metals, amounting to $36.50 million.
Market Cap: CA$467.93M
GoGold Resources has shown a significant turnaround, becoming profitable with net income of US$1.58 million for the year ended September 2024, up from a loss the previous year. The company reported sales of US$36.5 million and maintains a strong balance sheet with short-term assets exceeding both short- and long-term liabilities. A recent feasibility study for its Los Ricos South Project suggests potential operational advancements, enhancing its mining capabilities in Mexico. Despite low return on equity at 0.6% and earnings impacted by one-off gains, GoGold remains debt-free with experienced management steering growth prospects forward.
Unlock comprehensive insights into our analysis of GoGold Resources stock in this financial health report.
Review our growth performance report to gain insights into GoGold Resources’ future.
TSX:GGD Debt to Equity History and Analysis as at Jan 2025
McCoy Global
Simply Wall St Financial Health Rating: ★★★★★★
Overview: McCoy Global Inc. provides equipment and technologies for tubular running operations to enhance wellbore integrity and data collection in the energy industry, with a market cap of CA$73.39 million.
Operations: The Energy Products & Services segment generated CA$71.99 million in revenue.
Market Cap: CA$73.39M
McCoy Global Inc. operates without debt, enhancing its financial stability in the penny stock space. Despite a decline in quarterly sales to CA$15.84 million and net income to CA$0.516 million, the company remains profitable with high-quality earnings and a stable balance sheet, as short-term assets cover both short- and long-term liabilities. The management team’s experience supports operational consistency, although recent profit margins have decreased from 16.3% to 10.1%. McCoy trades below estimated fair value and has forecasted revenue growth of 9.03% annually, but its dividend sustainability remains questionable given limited free cash flow coverage.
Click to explore a detailed breakdown of our findings in McCoy Global’s financial health report.
Explore McCoy Global’s analyst forecasts in our growth report.
TSX:MCB Debt to Equity History and Analysis as at Jan 2025
Tree Island Steel
Simply Wall St Financial Health Rating: ★★★★★★
Overview: Tree Island Steel Ltd. manufactures and sells steel wire and fabricated steel wire products in Canada, the United States, and internationally, with a market cap of CA$77.79 million.
Operations: The company’s revenue is primarily derived from its Steel Wire Products Industry segment, which generated CA$208.93 million.
Market Cap: CA$77.79M
Tree Island Steel Ltd. operates in the steel wire products industry with a market cap of CA$77.79 million, facing challenges due to its current unprofitability and negative return on equity of -2.07%. Despite this, the company maintains financial stability with no debt and short-term assets exceeding both short- and long-term liabilities. Recent strategic moves include a share repurchase program and consistent dividend payouts, although dividends are not well-covered by earnings or free cash flow. The board’s average tenure of 15.6 years suggests a stable and experienced management team.


In conclusion, the top penny stocks on the TSX in February 2025 offer a mix of stable, predictable, and consistently growing investments, as well as riskier options. By focusing on companies with strong financial health ratings and potential for long-term growth, investors can uncover promising prospects in this often overlooked segment of the market.