CTRM - Are These Trending Penny Stocks Worth Buying Right Now?
3 Trending Penny Stocks To Add to Your November Watchlist
When it comes to trading penny stocks, trends are extremely important. This includes trends that are specific to both the penny stocks on your watchlist and the industries that they reside in. Right now, many investors are focused on industry-wide trends as there is a lot to keep track of. For that reason, let’s go into what’s affecting penny stocks right now. After a rather dismal day of trading, we did still see a few pieces of interesting news.
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For one, Bitcoin hit an all-time high of over $68,000 before correcting. This is always a positive sign for both cryptocurrency and the stock market at large. In addition, General Electric Company ( NYSE: GE ), announced that it would be splitting into three separate companies; aviation, healthcare, and energy. While this will not occur until at least 2023, it is an exciting prospect for investors to consider. While shares of GE stock shot up by over 7% during premarket trading, they finished the day at a solid 2.6% gain.
As we see, the focus has transitioned slightly away from Covid however, the after-effects of the pandemic still remain. This includes inflation and the resulting effects of massive goods shortages. Taking all of this into consideration, we see that trading penny stocks and blue chips is not easy in 2021. But, with a thorough amount of research and a proper trading strategy, making money with penny stocks can be done. Considering all of this, let’s take a look at three trending penny stocks to watch right now.
3 Penny Stocks to Watch That Are Trending Right Now
- Castor Maritime Inc. ( NASDAQ: CTRM )
- Yamana Gold Inc. ( NYSE: AUY )
- New Gold Inc. ( NYSE: NGD )
Castor Maritime Inc. (NASDAQ: CTRM)
Castor Maritime Inc. is an industrial penny stock that has climbed by around 1.6% in the past five days. If you’re not familiar, this company transports dry bulk cargo by sea. Its seaborne transportation services carry coal, iron ore, grains, fertilizers, steel, cement, and much more. It currently has a fleet of 27 vessels with an aggregate carrying capacity of 2.3 million deadweight tons. This includes 11 Panamax, 7 Kamsarmax, and 1 Capesize vessel among many others.
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On November 8th, the company reported its results for the three and nine months ended September 30th, 2021. In the three months ended on September 30th, the company’s revenue was $43.3 million versus $2.8 million in the same period of the previous year. Castor also experienced a net income of $15.5 million compared to a net loss of $0.6 million year over year during the three months ended on September 30th, 2021. The company’s EBITDA went up from $0.1 million to $21.2 million during the same period.
“We have completed all the acquisitions that we have announced since the beginning of 2021, and we are pleased with the solidity of our balance sheet following our expansion to date. The cash flow generation in the third quarter was robust and we have been able to fix a number of our vessels at attractive rates with our fleet utilization continuing at high levels.”
CEO of Castor, Mr. Petros Panagiotidis
As we can see, these numbers are very exciting and inspire confidence in investors. For that reason, CTRM stock could be worth adding to your penny stocks watchlist moving forward.
Yamana Gold Inc. (NYSE: AUY)
Yamana Gold Inc. is a mining penny stock that has climbed by over 9% in the past five days. While this may not seem like much, it is substantial considering that gold stocks tend to move slowly. If you’re not familiar, Yamana is a precious metals producer based in Canada. The company currently has development stage properties, gold and silver production, exploration properties, and land positions in the Americas. Yamana actively has assets located in Canada, Chile, and Argentina.
On October 28th, Yamana released its financial and operational results for the third quarter of 2021. The company stated that it remains on track to achieve its guidance for the year. Its net earnings were $27 million or $0.03 per share basic and diluted. Its mine operating earnings went up 8% quarter over quarter to $154 million. Yamana’s cash flows from operating activities went up 24% during this quarter as well.
This strong quarter has meant strong performance from AUY stock. In the last 5 days, AUY stock has continued to climb, presumably on these exciting results. In addition to this, the company recently declared its fourth-quarter dividend of $0.03 per share on October 28th as well. This is payable on January 14th, 2022, if you have been a shareholder as of December 31st, 2021. Based on all of this new information, will AUY stock be on your watchlist this week?
New Gold Inc. (NYSE: NGD)
New Gold Inc. is a penny stock that has seen a very sizable 31% in gains in the past month. Similar to AUY, New Gold Inc. is a mining company that develops and operates various properties in Canada. New Gold explores for gold, silver, and copper deposits at its mineral properties. It has a 100% interest in the Rainy River mine, New Afton mine, and more.
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On October 13th, the company reported its third-quarter operational results. New Gold achieved total production of 105,628 gold equivalent ounces during this period. Its Rainy River mine and New Afton mine produced 60,785 and 44,843 gold equivalent ounces respectively. In addition, its gold equivalent production during this quarter decreased due to lower tons milled.
“We remain on track to deliver on our updated guidance, and we continue to make progress towards securing the Company’s future growth at both assets. Our liquidity position improved for a third consecutive quarter, and I continue to expect meaningful free cash flow generation from our operations in the near-term.”
The President and CEO of New Gold, Renaud Adams
With this in mind, will NGD be on your list of penny stocks to watch ?
Which Trending Penny Stocks Are You Watching?
With so many trending penny stocks to choose from, it can be difficult to narrow down your list. However, because of the sheer number of penny stocks that are out there, finding ones that could be profitable can be done. Considering all of this, which trending penny stocks are you watching right now?