3 Top Penny Stocks to Add to Your November Watchlist
Investing in penny stocks in 2021 is not for the faint of heart. But if done correctly, there are plenty of ways to make money with penny stocks right now. To understand how, we have to consider what’s going on in the economy and how it could affect certain either penny stocks or blue chips.
How the Infrastructure Bill Could Affect Penny Stocks
At the top of the list, we have inflation and the fears surrounding the future of the U.S. economy. Despite a major boom in the stock market over the past few months, there is a lot of uncertainty considering the massive stimulus given out during the pandemic and the $1 trillion Bipartisan Infrastructure Bill.
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As a result, many investors have turned their attention toward inflation safeguards such as mining stocks, gold stocks, and more. Now, this is not to say that the economy is on the edge of a collapse and that it’s time to buy gold bullion. But rather, considering the current economic situation will help to guide your portfolio in the right direction.
When it comes to penny stocks, it’s always best to understand how geopolitical and economic shifts could cause a move in price. With the passing of the new infrastructure bill, we could see several positives such as job creation, but we could also see even more inflation considering the sheer cost. So, with all of this in mind, let’s take a look at three penny stocks to add to your November watchlist.
3 Penny Stocks to Watch in November 2021
- IAMGOLD Corp. (NYSE: IAG)
- ReTo Eco-Solutions Inc. (NASDAQ: RETO)
- Harmony Gold Mining Company Limited (NYSE: HMY)
IAMGOLD Corporation (NYSE: IAG)
IAMGOLD Corporation is a mining penny stock we have mentioned frequently because of its momentum. If you’re not familiar with IAG, it is a mining company with an interest in several high-profile mines. Specifically, it holds an interest in the Rosebel mine and Essakane mine among many others. The company is involved in the exploration, development, and operation of these properties. In addition to gold, IAMGOLD also searches for silver and copper at its projects like the Loma Larga project.
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On November 3rd, the company reported its third-quarter results for 2021. IAMGOLD’s mine-site free cash flow totaled $121.6 million with an adjusted EBTIDA of $265.7 million. In addition, IAMGOLD experienced a total net loss of $20.1 million of $0.04 per share during this period. Despite some negatives, investors in IAG are still comfortable in the future of the company. In the past five days and one month period, shares of IAG stock have shot up by around 6% and over 18% respectively.
“The third quarter of 2021 saw improvement in our operating performance supported by the continued strong results at Essakane. Rosebel performed in line with the revised plan. Construction activities at Côté continue to proceed well, reaching 36% project completion at quarter-end. First steel installation of the plant building commenced in mid-October, and the project remains on track for commercial production in the second half of 2023.”
President and CEO of IAG, Gordon Stothart
With its recent bullish momentum, it’s no wonder why investors are paying attention to IAG stock. Considering that, will it be on your list of penny stocks to watch?
ReTo Eco-Solutions Inc. (NASDAQ: RETO)
ReTo Eco-Solutions inc. is a penny stock that is up by over 25% at midday on November 16th. This brings its five-day and one-month gains to a staggering 69% and 186% respectively. For some context, Reto is a materials corporation based in China that offers construction products. ReTo is involved in the manufacturing and distribution of its products. These products are used for flood control, water retention, gardens, water absorption, and much more.
Recently ReTo came into the public eye regarding an update from the NASDAQ. The NASDAQ announced that RETO stock is below the minimum bid price requirement and it could potentially face delisting if it is unable to meet the $1 requirement. However, at over $2.30 per share right now, it looks like RETO is no longer at risk of losing its listing status. It’s worth noting that it has to maintain an above $1 price for over 10 days to remain compliant moving forward. Noting this new info, will RETO be on your penny stock watchlist?
Harmony Gold Mining Company Limited (NYSE: HMY)
Harmony Gold Mining Company Limited is another mining penny stock that has been making solid headway in the past week or so. During that time, shares of HMY stock have climbed by over 10% to its current price of over $4 per share. This company explores for, extracts, and processes gold at its mines. Additionally, Harmony searches for silver, copper, uranium, and molybdenum deposits as well. It searches for these materials at the Hidden Valley mine, Wafi-Golpu, and more.
According to the company’s most recent update, earnings and sales for the fiscal year 2021 grew year over year. This is due to the company’s solid mining outlook and the rising price of metals right now. If we consider that HMY’s largest mining asset is gold, we see that it is an important metal to keep an eye on. In addition, we’ve seen inflation have a sizable effect on the price of most raw materials, including those that Harmony mines.
Because of this, many investors believe that the outlook for Harmony could remain positive moving into the future. While HMY’s stock performance this year is nothing to write home about, we have seen a slight bullish turnaround in the last week or two. Whether this bullish sentiment can remain into the future remains to be seen. But, there’s no doubting that HMY stock could be worth watching moving into the next few weeks. Keeping this in mind, will HMY be on your penny stock watchlist?
Which Penny Stocks Are on Your Watchlist Right Now?
If we consider what’s going on in the world, making a penny stocks watchlist can be that much easier. However, investors also need to have a thorough understanding of their own investing style and how that will impact the stocks on your list.
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To do so, traders should consider their tolerance for risk, and what their long-term investing goals are. With all of this in mind, which penny stocks are on your watchlist right now?
