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10 Best Penny Stocks

Using our proprietary algorithm, we searched the TSX, Nasdaq and NYSE to find the 10 best penny stocks to buy.

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Finder’s list of the best penny stocks comes from our proprietary ranking system and is meant to be a starting point for your own research. It’s not advice to buy any particular stock.

Penny stocks generally trade for less than $5 per share and are often available on major exchanges. Some narrow the definition to include only small-cap stocks that trade over-the-counter for less than $1 per share.

For our list of the best penny stocks, we chose stocks trading for less than $5. These stocks could make big intraday moves and are relatively cheap enough to build large positions.

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  • Easy-to-use platform
  • Low fees
  • Student and young investor discounts

Best for Lowest Commissions

Finder Award

  • Access to international stock exchanges
  • Low margin rates
  • Powerful research tools

Best for Easy-to-use App

  • $50 in free trades
  • Low commissions
  • Easy-to-use app

10 best penny stocks to buy now in Canada and the US

Athabasca Oil Corp (ATH.TO)

Athabasca Oil Corporation engages in the exploration, development, and production of light and thermal oil resource plays in the Western Canadian Sedimentary Basin in Alberta, Canada. The company operates through Thermal Oil and Light Oil segments.
  • Market cap: C$2.189 billion
  • YTD performance: 2111.43%
  • 1 Year performance: 89.71%
  • 5 Year performance: 3770%
  • P/E Ratio: 5.3944
  • Headquarters: Canada

Buy on Interactive Brokers

Taiga Building Products Ltd. (TBL.TO)

Taiga Building Products Ltd. operates as a wholesale distributor of building products in Canada and the United States.
  • Market cap: C$304.462 million
  • YTD performance: 20.84%
  • 1 Year performance: 14.63%
  • 5 Year performance: 468.63%
  • P/E Ratio: 4.9474
  • Headquarters: Canada

Buy on Interactive Brokers

Gran Tierra Energy Inc (GTE.TO)

Gran Tierra Energy Inc., together with its subsidiaries, engages in the exploration and production of oil and gas properties in Colombia and Ecuador. The company was founded in 2003 and is headquartered in Calgary, Canada..
  • Market cap: C$284.283 million
  • YTD performance: 1660.42%
  • 1 Year performance: 930.49%
  • 5 Year performance: 3280%
  • P/E Ratio: 12.5588
  • Headquarters: Canada

Buy on Interactive Brokers

CES Energy Solutions Corp (CEU.TO)

CES Energy Solutions Corp., together with its subsidiaries, engages in design, implement, and manufacture of advanced consumable fluids and specialty chemicals in the United States and Canada. It provides solutions for drill-bit, point of completion and stimulation, wellhead and pump-jack, and pipeline and midstream markets.
  • Market cap: C$609.015 million
  • YTD performance: 169%
  • 1 Year performance: 48.93%
  • 5 Year performance: 468.86%
  • P/E Ratio: 5
  • Headquarters: Canada

Buy on Interactive Brokers

Touchstone Exploration Inc (TXP.TO)

Touchstone Exploration Inc. engages in the exploration, development, acquisition, production, and sale of petroleum and natural gas properties in the Republic of Trinidad and Tobago.
  • Market cap: C$233.037 million
  • YTD performance: -63.24%
  • 1 Year performance: 3.62%
  • 5 Year performance: 391.43%
  • P/E Ratio: N/A
  • Headquarters: Canada

Buy on Interactive Brokers

GoGold Resources Inc. (GGD.TO)

GoGold Resources Inc. engages in the exploration, development, and production of gold and silver primarily in Mexico.
  • Market cap: C$404.847 million
  • YTD performance: -42.62%
  • 1 Year performance: 25%
  • 5 Year performance: 636.85%
  • P/E Ratio: N/A
  • Headquarters: Canada

Buy on Interactive Brokers

Perseus Mining Ltd (PRU.TO)

Perseus Mining Limited explores, evaluates, develops, and mines for gold properties in West Africa. The company primarily holds interests in the Edikan gold mine project located in Ghana; and Sissingué and Yaoure gold projects located in Côte d'Ivoire.
  • Market cap: C$2.305 billion
  • YTD performance: 32.07%
  • 1 Year performance: 31.07%
  • 5 Year performance: 424.25%
  • P/E Ratio: 8.6842
  • Headquarters: Canada

Buy on Interactive Brokers

EcoSynthetix Inc (ECO.TO)

EcoSynthetix Inc., a renewable chemicals company, develops and commercializes bio-based technologies that are used as replacement solutions for synthetic, petrochemical-based adhesives, and other related products worldwide. The company offers EcoMer biomonomer for use in pressure sensitive adhesives, ink, toner resins, and paints; EcoSphere biolatex, a bio-based latex binder used in paper and paperboard coatings; EcoStix, a family of sugar-acrylic and pressure-sensitive adhesives, which include customizable resin grades and formulated grades; and DuraBind engineered biopolymers that enable manufacturers of particle board, MDF, veneers, and laminates to decrease the amount of highly regulated chemicals, such as formaldehyde in their formulation.
  • Market cap: C$218.893 million
  • YTD performance: -2.43%
  • 1 Year performance: 39.54%
  • 5 Year performance: 143.25%
  • P/E Ratio: N/A
  • Headquarters: Canada

Buy on Interactive Brokers

Africa Oil Corp (AOI.TO)

Africa Oil Corp., together with its subsidiaries, operates as an oil and gas exploration and production company in Kenya, Nigeria, and South Africa. The company holds interests in producing and development assets in deep-water Nigeria, and development assets in Kenya.
  • Market cap: C$1.387 billion
  • YTD performance: 123.01%
  • 1 Year performance: 8.16%
  • 5 Year performance: 254.93%
  • P/E Ratio: N/A
  • Headquarters: Canada

Buy on Interactive Brokers

Atalaya Mining Ltd (AYM.TO)

Atalaya Mining Plc, together with its subsidiaries, engages in the mineral exploration and development in Spain. The company's flagship property is its 100% owned Proyecto Riotinto mine, an open-pit copper mine located in the Andalusia region of Spain.
  • Market cap: C$835.771 million
  • P/E Ratio: 10.7037
  • Headquarters: Canada

Buy on Interactive Brokers

What you should know before buying the best penny stocks

There’s no single winning strategy to finding what experts might call the best penny stocks, because the most important considerations are your own goals and circumstances.

Our stock list is not personal financial advice—your personal objectives and financial situation have not been taken into consideration. Do your own research, and speak with an investment professional if in doubt.

It’s important to know whether a stock is performing well, making a profit, paying dividends or going backwards. Always remember that past performance does not guarantee future results. Investments can increase and decrease in value.

This list and data was compiled November 17, 2022. The algorithm was last updated 27 January 2021.

Compare brokers to buy the best penny stocks

You can buy Canadian and US stocks through the following Canadian platforms. Learn more about how to get started in our guide to opening a stock trading account.

1 - 5 of 5
Name Product Finder Rating Available Asset Types Stock Trading Fee Account Fee Signup Offer Table description
Interactive Brokers
Finder Score:
4.3 / 5
Stocks, Bonds, Options, ETFs, Currencies, Futures
min $1.00, max 0.5%
Winner for Best Overall Broker in the Finder Stock Trading Platform Awards.
CIBC Investor's Edge
Finder Score:
3.8 / 5
Stocks, Bonds, Options, Mutual Funds, ETFs
$0 if conditions met, or $100
100 free trades + up to $4,500 cash back
An easy-to-use platform with access to a variety of tools to help you trade with confidence.
Finder Score:
4.3 / 5
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs, International Equities, Precious Metals
$4.95 - $9.95
Get $50 in free trades when you fund your account with a minimum of $1,000.
Opt for self-directed investing and save on fees or get a pre-built portfolio to take out some of the guesswork.
Qtrade Direct Investing
Finder Score:
3.7 / 5
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs
$6.95 - $8.75
$0 if conditions met, otherwise $25/quarter
Get up to $2,000 cashback as a new or existing client. Use promo code CASHBONUS2024. Ends March 4, 2024.
Low trading commissions and an easy-to-use platform with access to powerful tools and a wide selection of investment options.
Finder Award
Finder Score:
3.7 / 5
Stocks, ETFs
Get $25 when you open a Wealthsimple account and fund at least $150.
Pay no commissions when you trade Canadian stocks and ETFs with Wealthsimple.
Online stock trading in Canada

Type of investor suited to penny stocks

Penny stocks are highly speculative investments. The odds losing all your money are greater than gaining high returns. As such, penny stocks are more suited to:

  • Experienced investors
  • Investors with high risk tolerance
  • Hedge fund managers and other professional investors
  • Those with a long-term horizon who are willing to ride out short-term volatility
  • Investors who are willing to take a bit of a gamble

What happens in the future is anyone’s guess. However, we do know some big themes that are driving the market.

Eastern Europe conflict

In response to the conflict in Ukraine, many Western countries have placed sanctions on Russia. This has seen skyrocketing prices of commodities such as oil and gas, which Russia is a major producer of. A strong oil price helps the share price of penny stocks.

Supply shortages

Differing COVID-19 policies around the world continues to impact supplies of goods and services. For example, the US is facing a struggle to supply infant formula and a shortage of approved providers.

Growth stocks

Tech businesses are often among the most heavily hit during periods of inflation and rising rates. But the world is changing, creating new opportunities for some business, for example, those in the artificial intelligence or electric vehicle industries.

Frequently asked questions

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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