Kalkine Media lists 5 TSX Penny stocks to watch before 2023

Highlights

• ShaMaran Petroleum acquired TEPKRI Sarsang A/S on September 14, 2022.
• Theralase Technologies’ gross margin in Q3 2022 was C$ 0.42 million.
• In Q3 2022, CWC Energy Services adjusted EBITDA was C$ 16.16 million.

Penny stocks are a crucial part of the stock market and bring in many investors. Many penny investors focus on these stocks rather than tapping on larger companies. If you are new to the market, you may consider factors such as pocket-friendliness and stability.

The market may be volatile and fluctuating but it is important to maintain your stability. If you make the right decision and form your strategy tactfully, you may be able to move against the fluctuations and stabilize your portfolio. Sometimes, when investors do not look at the overall picture, they may face the consequences of fluctuating portfolios.

From a distance, it may seem to be easy, but it requires effort and thorough research. Analyze the existing factors along with the past trajectory. This gives complete market clarity, and you can take well-informed decisions. Along with this, focus on your portfolio needs as well. Every portfolio has different needs. Do not follow any other investor’s trail form your strategy.

Now let us look at the following five penny stocks to assess along with their recent financial highlights:

1. ShaMaran Petroleum Corp. (TSXV:SNM)

ShaMaran Petroleum Corp. is a Canada-based oil producer that has a 27.6 per cent interest in the Atrush Block production sharing contract. The Atrush Block is located in the Kurdistan region of northern Iraq. Further, ShaMaran petroleum is one of the members of the Lundin Group of Companies and has a total market capitalization of US$ 266.95 million.

In Q3 2022, ShaMaran Petroleum’s revenue increased to US$ 39.81 million from US$ 29.07 million in Q3 2021. The company’s cash flow from operations rose to US$ 28.25 million from US$ 12.54 million for the same comparable period. The EBITDAX rose to US$ 32.62 million from US$ 16.01 million. The EPS of the company is US$ 0.07.

On September 14, 2022, ShaMaran Petroleum acquired TEPKRI Sarsang A/S.

Market Capitalization of SNM, CWC, TLT, PVT, and HTL:

2. CWC Energy Services Corp. (TSXV:CWC)

CWC Energy Services Corp. is an oilfield services company with a total market capitalization of C$ 128.29 million. The company offers products and services to gas and oil exploration and development companies throughout the Western Canadian Sedimentary Basin (WCSB). The company provides services-swabbing rigs, drilling and servicing rigs and coil tubing. CWC Energy Services operates under the segments Production Services and Contract Drilling.

In Q3 2022, CWC Energy Services reported its revenue at C$ 61.78 million compared to C$ 27.77 million in Q3 2021. For the same period, the company reported its adjusted EBITDA at C$ 16.16 million versus C$ 5.39 million. The net income rose to C$ 9.51 million from C$ 2.01 million. The gross margin grew to C$ 21.97 million from C$ 8.32 million for the reported quarter.

As on September 30, 2022, the total assets increased to C$ 265.05 million from C$ 226.64 million on December 31, 2021. Meanwhile the company’s net debt decreased to C$ 14.26 million from C$ 26.88 million.

3. Theralase Technologies Inc. (TSXV:TLT)

Theralase Technologies Inc. operates as a clinical stage pharmaceutical company that is engaged in research and development of light activated Photo Dynamic Compounds, technology platforms and their associated drug formulations. With a total market capitalization of C$ 63.32 million, the company works with the intention of treating various viruses, bacteria, and cancer in an effective and safe way.

Theralase Technologies’ revenue was reported at C$ 0.81 million compared to C$ 0.56 million in Q3 2021. The gross margin increased to C$ 0.42 million from C$ 0.24 million for the same comparable period. The company’s total operating expenses rose to C$ 4.77 million from C$ 3.37 million. Theralase Technologies’ net loss increased to C$ 4.35 million from C$ 3.12 million for the reported quarter.

4. Pivotree Inc. (TSXV:PVT)

Pivotree Inc. operates as a global commerce service provider that caters to clients from hosting, deployment, platform selection and strategy. The company's clients opt for solutions for MDM platforms and Commerce. Pivotree Inc. operates with a total market capitalization of C$ 90.45 million.

In Q3 2022, Pivotree’s revenue increased to C$ 24.59 million from C$ 16 million in Q3 2021. The gross profit grew to C$ 11.04 million from C$ 7.12 million for the same comparable period.

The company’s operating expenses increased to C$ 15.22 million from C$ 10.5 million for the reported quarter. The Adjusted EBITDA decreased to C$ 0.42 million from C$ 0.99 million for the same comparable period.

5. Hamilton Thorne Ltd. (TSXV:HTL)

Hamilton Thorne Ltd. operates in the healthcare sector with a total market capitalization of US$ 214.35 million. The company provides consumables, precision instruments, software and services that focus on cost reduction, increased productivity, and better results.

Through its services, the company focuses on bringing enable breakthroughs in biology research markets and ART (Assisted Reproductive Technologies). Hamilton Thorne’s clientele includes animal breeding facilities, fertility clinics, biotechnology companies, pharmaceutical companies, and academic research establishments.

In the quarter ending on September 30, 2022, Hamilton Thorne’s sales increased to US$ 13.5 million from US$ 12.68 million in Q3 2021. The gross profit rose to US$ 6.52 million from US$ 6,02 million for the same comparable period.

The adjusted EBITDA grew to US$ 2.09 million from US$ 2.03 million for the same comparable period. Hamilton Thorne’s operating expenses in the reported quarter soared to US$ 6.69 million from US$ 5.55 million in the year-ago quarter.

Bottom Line

Before entering into the market, have a clear view of the existing market structure and factors. Additionally, have a detailed analysis and tap into the opportunities at the right time.  

Your portfolio is a long-term reflection of your goals and gains. To be in a better place, reposition your portfolio in an effective way and according to the current market conditions. By staying in line with the trending stocks, you may be able to stay on top of your stock selection. Hence, do not miss any chance on getting any market and stock information.

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.