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Highlights
- Stocks of Titan Mining (TSX:TI) gained by almost 85 per cent in 12 months
- Forza Petroleum (TSX:FORZ) stock swelled by over 80 per cent in the past one year
- The S&P/ TSX Composite Index lost by over 11 per cent year-to-date
Investors with a wide risk appetite often prefer penny stocks, especially the ones that are likely to grow in future. Such Canadian traders can look at TSX penny stocks like Titan Mining (TSX:TI) and Forza Petroleum (TSX:FORZ).
Notably, both these stocks have gained about 85 per cent and 80 per cent, respectively, in the past one year. Let us find out more about these TSX penny stocks.
Titan Mining Corporation (TSX:TI)
Titan is a zinc producer and owns a 100 per cent equity interest in Empire State Mine. The natural resource miner posted an increased revenue of US$ 13.96 million in the quarter that ended on March 31, 2022, compared to US$ 10.94 million a year ago.
The penny company said its income from mine operations reached US$ 0.42 million in the latest quarter, higher than US$ 0.36 million in the previous year’s quarter.
According to EODHD/Others data, TI stock sharply rose in October last year and since then it has been on a consolidated trend. Reportedly, TI’s Relative Strength Index (RSI) value was 45.52 on June 30.
Forza Petroleum Limited (TSX:FORZ)
Forza reported US$ 82.4 million in revenue in the first three months of FY2022. The C$ 105-million market cap company posted a growing profit of US$ 22.4 million in the latest quarter, relatively up from US$ 21.2 million in Q1 2021.
FORZ stock swelled by over 71 per cent in the last nine months. As per EODHD/Others, FORZ stock held an RSI value of 44.44 on June 30, above the oversold mark of 30. Forza’s debt-to-equity (D/E) ratio of 0.01 shows a lower solvency risk than Titan (2.48).
Bottomline
The S&P/ TSX Composite Index lost by over 11 per cent year-to-date (YTD), but these penny companies saw a significant one-year gain in stock prices. Hence, investors could consider these TSX penny stocks.
However, high risk can come with penny-cap companies as they can, in certain circumstances, lose money due to weakness in business operations.
Please note, the above content constitutes a very preliminary observation based on the industry, and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.
