TSX Penny Stocks Spotlight: Questerre Energy Among Three Top Picks

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The Canadian stock market has been experiencing a robust year, with the TSX up over 17%, mirroring the positive trends seen in other major indices like the S&P 500. As investors navigate these buoyant conditions, attention often turns to identifying stocks that can leverage current economic strengths. Penny stocks, though an older term in investment circles, still represent a compelling area for those seeking growth opportunities in smaller or newer companies with strong financial foundations.

Top 10 Penny Stocks In Canada

Name

Share Price

Market Cap

Financial Health Rating

PetroTal (TSX:TAL)

CA$0.67

CA$620.84M

★★★★★★

Findev (TSXV:FDI)

CA$0.42

CA$11.75M

★★★★★☆

Winshear Gold (TSXV:WINS)

CA$0.18

CA$5.18M

★★★★★★

Mandalay Resources (TSX:MND)

CA$3.34

CA$304.56M

★★★★★★

Pulse Seismic (TSX:PSD)

CA$2.37

CA$116.65M

★★★★★★

Amerigo Resources (TSX:ARG)

CA$1.80

CA$298.44M

★★★★★☆

Foraco International (TSX:FAR)

CA$2.37

CA$236.62M

★★★★★☆

East West Petroleum (TSXV:EW)

CA$0.04

CA$3.17M

★★★★★★

Newport Exploration (TSXV:NWX)

CA$0.115

CA$12.14M

★★★★★★

NamSys (TSXV:CTZ)

CA$1.11

CA$29.82M

★★★★★★

Click here to see the full list of 948 stocks from our TSX Penny Stocks screener.

Underneath we present a selection of stocks filtered out by our screen.

Questerre Energy

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

Overview: Questerre Energy Corporation is an energy technology and innovation company focused on acquiring, exploring, and developing non-conventional oil and gas projects in Canada, with a market cap of CA$117.84 million.

Operations: The company's revenue is generated from its Oil & Gas - Exploration & Production segment, amounting to CA$34.25 million.

Market Cap: CA$117.84M

Questerre Energy, with a market cap of CA$117.84 million, is focused on non-conventional oil and gas projects in Canada. Recent developments include the initiation of new drilling programs at Kakwa North and Central, which could impact future production levels. Although currently unprofitable, Questerre has managed to reduce its losses over the past five years by 2.4% annually. The company maintains a strong balance sheet with short-term assets exceeding both short- and long-term liabilities, and it holds more cash than total debt. However, its share price remains highly volatile compared to most Canadian stocks.

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

Santacruz Silver Mining

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

Overview: Santacruz Silver Mining Ltd. is involved in the acquisition, exploration, development, and operation of mineral properties in Latin America, with a market cap of CA$140.56 million.