5 Hot Canadian Penny Stocks To Buy In March

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Investors often seek out low-priced micro- and nano-cap stocks which have a shot at growth. The key in finding such penny stocks often lies in their recent financials and stock performances. So here is a look at five Canadian firms that are currently listed high on the trending charts of the Toronto Stock Exchange – Fire & Flower Holdings (TSX:FAF), Loop Insights (TSXV:MTRX), ClearStream Energy Services (TSX:CSM), Amex Exploration (TSXV:AMX) and AEterna Zentaris (TSX:AEZS).

A point to be noted here is that penny stocks are often considered riskier and volatile, which is why investors should take caution before making any investment related decisions. That said, let’s dive in to learn more about these five penny stocks and their profiles.

1.    Fire & Flower Holdings Corp (TSX:FAF)

Current Stock Price: C$ 1.3

Canadian cannabis retailer Fire & Flower saw its stocks surge by over 51 per cent this year and by nearly 59 per cent in the last three months. In the past one year, the stock grew roughly 128 per cent.

The Edmonton-based company, which recently entered the US market via a strategic licensing partnership with private firm American Acres Managers, recorded substantial investments from Alimentation Couche-Tard last year. The Canadian retail giant reportedly owns about 15 per cent of Fire & Flower.

The C$ 301-million market cap* company is now looking to enter the Wall Street via a listing on the Nasdaq exchange, for which it applied in February.

2.    Loop Insights Inc (TSXV:MTRX)

Current Stock Price: C$ 1.49

The trending TSXV-listed stocks of junior tech company Loop Insights recorded a leap of over 104 per cent in the last three months. While the stock slid by nearly nine per cent year-to-date (YTD), it has registered a jump of nearly 1142 per cent in the last one year.

Loop Insights delves in the business of providing retail insights to physical establishments using artificial intelligence (AI). The Vancouver-based company announced early on Monday, March 1, that is has signed the letter of intent for a C$ 2 million licensing deal with health care platform Maitri Health Technologies. Earlier in February, it closed the acquisition of location data intelligence provider Locally.

Loop currently holds a market cap* of C$ 136 million and a 10-day average share trading volume of over one million.

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3.    ClearStream Energy Services (TSX:CSM)

Current Stock Price: C$ 0.07

Alberta-based nano cap company ClearStream Energy saw its stocks catapult by over 171 per cent last Wednesday (February 24) after it announced bagging new project awards and contracts renewals from across North America. ClearStream quickly became one of the most active TSX stocks on Wednesday, securing a trading volume of over 14.6 million in a day’s session.

Although the energy stock has since fallen, it still records a YTD growth of over 133 per cent.

The C$ 7.6-million market cap* company said that expects a revenue of about C$ 150 million from these contracts, which are likely to be completed this year.

4.    Amex Exploration Inc (TSXV:AMX)

Current Stock Price: C$ 2.93

Junior gold mining company Amex Exploration is currently ranked high among TSX-listed micro- and small cap basic materials stocks. The stock surged by about 84 per cent in the past one year and by almost 153 per cent in the last 11 months since the March lows.

Known to focus on gold exploration projects located in the Quebec province, Amex currently holds a market cap* of C$ 244 million, a price-to-book ratio* of 5.635 and a return on equity* of 1.02 per cent.

5.    AEterna Zentaris (TSX:AEZS)

Current Stock Price: C$ 1.5

Specialty biopharmaceutical company AEterna Zentaris saw its stocks skyrocket by over 199 per cent to this year’s highest level of C$ 4.25 on February 9. The surge came days after the firm announced a new deal to analyze Julius-Maximilians-University Wuerzburg’s preclinical COVID-19 vaccine candidate.

AEterna Zentaris’ trending stocks are currently up by over 188 per cent this year.

AEterna Zentaris, which presently has a market cap* of C$ 80 million, held a public offering of over 20.5 million shares in February. Priced at C$ 1.45 apiece, the bought deal offering raised gross proceeds of over C$ 29.7 million, Aeterna Zentaris said.

*as per TMX

The above constitutes a preliminary view and any interest in stocks should be evaluated further from an investment point of view.