Some Names To Add To Your List Of Penny Stocks This Month
Whether you’re looking for penny stocks to buy right now or just trying to find some penny stocks to watch, the first step is research. If you look at any of the top-rated traders online right now, their number 1 focus is learning before earning. It might sound cliche but truth be told, an educated trader is likely to be more consistently profitable than the FOMO trader.
How do you get a basic understand of penny stocks? Well, you could try Googling things like:
- Can you make money in penny stocks?
- How do beginners buy penny stocks?
- Who got rich off penny stocks?
Or you could start learning about trading stocks the right way with a proper education. The simple fact is, just take a little time to do research before jumping into anything that you read about online. Even on our site, we do our best to give some basic info on trending penny stocks. But then it’s up to you to continue your research an decided what to do next.
Penny Stocks & Following Stock Market Trends
One of the things to understand and be aware of is that some penny stocks move with certain market trends. A popular trend right now has been in the gold sector. A number of gold stocks including gold penny stocks have been on fire. That’s not just this month but also for most of the entire year.
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We’re seeing record-high levels in gold right now and a number of gold stocks reaching fresh 52-week highs. With this in mind, let’s take a look at a few trending gold names that have caught some attention this quarter. Will they be on your list of penny stocks this week?
Penny Stocks To Watch: IMC International Mining
IMC International Mining (IMIMF Stock Report) (IMCX) has been one of the junior gold stocks to watch recently. This came after IMIMF pulled back in late-April but could be seeing a potential new support level on the chart. If you look at how it pulled back to a previous area of resistance and didn’t break below it, there could be an argument made that this might be a new level of support. On Monday, we saw this materialize further and IMIMF jumped back above $0.50. That trend continued on Tuesday with shares hitting $0.53.
IMC International brought on CME Consultants to begin its geochemical program and about a week later announced that rock and soil samples were sent off for lab testing. IMC International Mining is now awaiting results from over 460 samples submitted for lab testing. When it comes to any gold company, especially exploration stage companies like IMC international, results are critical to the viability of a property.
IMC International closed its latest and likely most important acquisition to date: Thane Minerals. Why this is so important is because it puts the company in the middle of one of the most prolific areas for gold discovery in the world. Meanwhile, on a corporate conference call, Chairman Greg Hawkins explained that his goal is to see IMC begin exploration by the summer and start drilling before the end of the year.
Rider: It is noted that the results of nearby or adjacent properties are not necessarily indicative of the potential of the Cathedral property and should not be understood or interpreted to mean that similar results will be obtained from the Cathedral property.
Penny Stocks To Watch: Yamana Gold
If you were to look at the price of gold over the last few week, it might raise your eyebrows a bit. But if you look at some of the gold penny stocks recently, it could be a whole different sentiment. While it’s true that gold prices have jumped this year, the price for junior gold stocks have carried a higher pace.
Yamana gold stock (AUY Stock Report) is one of these low-priced stocks to watch. Over the last several weeks, shares of Yamana have climbed from lows of $2.23 to a new 52-week high of $5. That 100%+ move came amid big gold price movement but also milestones hit by the company.
In its most recent corporate earnings update, the company reported strong Q1 preliminary results. These included gold production of 192,238 ounces and silver production of 2.73 million ounces. Total gold equivalent ounce (“GEO”) production during the quarter was 221,746 GEO. Its Jacobina, El Peñón, and Minera Florida all delivered strong quarters, which exceeded production targets.
Net earnings of $45.0 million or $0.05 per share basic and diluted compared to a net loss of $4.1 million or nil per share basic and diluted a year earlier. Thanks to this and the obvious rise in the precious metal’s price, Yamana has been one of the other gold penny stocks to watch this year.
Penny Stocks To Watch: B2Gold
Finally, B2Gold (BTG Stock Report) is the last on this list of gold penny stocks to watch. Though shares may not be considered a penny stock for long, BTG has been a top performer among gold stocks this year. During the mid-March to current time-frame, the penny stock has managed to climb from $2.16 to as high as $5.53. This week may have been the last time the market could see BTG meeting the definition of a penny stock.
As with other gold stocks, including gold penny stocks, B2Gold had planned earnings coming this week. After the closing bell on May 5, the company officially released its report. Consolidated gold production of 250,632 ounces, well-above budget by 7%(16,156 ounces) and a significant increase of 25% (50,090 ounces) over the first quarter of 2019 (excluding discontinued operations) with solid performances from all the Company’s operations (all exceeding their targeted production for the quarter).
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Furthermore, the company saw record quarterly total gold production of 265,862 ounces. This also helped it reach record quarterly consolidated gold revenue from the Company’s three operating mines of $380 million. This represented a significant increase of 44% over the same period last year.