What Are the Top Penny Stocks to Invest in Canada?

What Are the Top Penny Stocks to Invest in Canada?

Penny stocks are low-priced stocks that trade for less than $5 per share. These stocks are considered high-risk investments because they often lack liquidity and have a higher chance of being delisted from the stock exchange. However, if you are willing to take some risks, penny stocks can offer high returns on investment. In Canada, there are several penny stocks that are worth considering for investment. In this article, we will discuss some of thetop penny stocksto invest in Canada.

1. Aurora Cannabis Inc. (ACB)

Aurora Cannabis Inc. is a Canadian cannabis company that produces and distributes medical cannabis products. The company's stock has been volatile in recent years, but it has shown significant growth potential. Aurora Cannabis has a market capitalization of $1.5 billion and is one of the leading cannabis producers in Canada. If you are looking to invest in the cannabis industry, Aurora Cannabis may be a good option.

2. Canopy Growth Corporation (CGC)

Canopy Growth Corporation is another leading cannabis producer in Canada. The company has a market capitalization of $7.5 billion and is constantly expanding its production capacity. Canopy Growth has partnerships with major companies such as Constellation Brands and has a solid financial position, making it a good choice for long-term investment in the cannabis industry.

3. Bombardier Inc. (BBD)

Bombardier Inc. is a Canadian multinational aerospace and transportation company. The company produces aircraft, trains, and other transportation equipment. Bombardier has a market capitalization of $1.2 billion and has been investing heavily in new technologies such as electric trains and aircraft. The stock has been undervalued in recent years, making it a good option for value investors.

4. Kinross Gold Corporation (KGC)

Kinross Gold Corporation is a Canadian gold mining company. The company has a market capitalization of $8.4 billion and operates several mines in North and South America, as well as West Africa. The stock has been performing well in recent years, and with the price of gold expected to rise, Kinross Gold may be a good option for investors looking for exposure to the gold mining industry.

5. BlackBerry Limited (BB)

BlackBerry Limited is a Canadian multinational company that provides enterprise software and services. The company is known for its security-focused smartphones, but it has been expanding into other areas such as cybersecurity and the Internet of Things. BlackBerry has a market capitalization of $4.2 billion and has shown strong growth potential in recent years, making it a promising penny stock investment.

In conclusion, penny stocks can offer high returns on investment, but they are also high-risk investments. It is important to conduct thorough research before investing in any penny stock to minimize the risks. The above-mentioned penny stocks are some of the top options to consider for investment in Canada, but investors should also consider their own risk tolerance and investment goals before making any investment decisions.