Top Penny Stocks To Watch
We’re turning the page on March, so it’s time to start putting together your list of penny stocks to watch for April. A lot was learned during the first quarter of the year, and several things have been outlined. We know that more rate hikes are coming and that some of the uncertainty in the energy sector has gotten cleared up (for now).
But I don’t think that means we’re entirely in the clear. As with every year, there are likely many additional bullish and bearish catalysts to account for. Recent trends have placed recession stocks on watch, and you can’t ignore micro-retail trends like short squeeze stocks or meme stocks. Heading into the first days of April, here’s a handful of penny stocks traders are watching right now.
Penny Stocks To Watch For April
- Westwater Resources Inc. (NYSE: WWR)
- The Metals Co. (NASDAQ: TMC)
- United States Antimony Corp. (NYSE: UAMY)
- Orbital Energy Group Inc. (NASDAQ: OEG)
- B2Gold Corp. (NYSE: BTG)
Top Penny Stocks To Buy Now
A word of caution when looking for the top penny stocks to buy: always have a plan. Depending on the type of trader (or investor) you are, your idea of “top” or “best penny stocks” will be different. For example, if you’re a day trader, you’re looking for the best penny stocks to buy right now that are heavily trending and likely to turn a profit quickly. On the other hand, if you’re looking at investing in penny stocks, your strategy is different. Whichever type of trader you are, the plan comes in handy when putting together your watch list. Today we look at a few top penny stocks to watch in April after a recent development from the White House (more on this later).
Westwater Resources Inc. (NYSE: WWR)
Electric vehicle stocks have gotten a recharge thanks to news from the White House and some smaller catalysts stemming from Tesla news. This has brought automotive manufacturing and sales companies into focus; it has also roped in the entire ecosystem. This includes companies like Westwater Resources, which develops battery-grade natural graphite.
As Westwater develops the Coosa Deposit in Alabama, its Coosa Plant has been a point of interest. According to management, the company has already begun discussions with “several” battery manufacturers. They aim to sign multi-year supply agreements.
“With construction of the Coosa Plant and production of battery-grade graphite scheduled for 2023, plus permitting and development of the Coosa Deposit for flake graphite production planned for 2028, we are poised to become the first fully integrated U.S. domestic graphite producer.”
Chad Potter, COO of Westwater
As you’ll see later in this article, EV and green energy could be a topic of discussion to keep track of.
The Metals Co. (NASDAQ: TMC)
Shares of The Metals Co. have gained momentum over the last few sessions. Thanks to an uptick in interest in EV companies. In particular, TMC explores for lower-impact battery metals and uniquely harvests them from seafloor polymetallic nodules. TMC stock has managed a strong bounce into the end of March despite mixed earnings results.
This week, the company announced a new update involving a test of its pilot collector vehicle in the North Sea. The vehicle was tested for mobility and proper functionality in various conditions. Based on the results of these tests, The Metals Company now plans to begin the prep work for a full pilot nodule collection trial later this year. With a focus on EV industry stocks, TMC could be one of the names to follow.
In particular, its nodule collection process looks to recover critical materials used in the green energy industry. Nickel, manganese, copper, and cobalt are all required for building renewable energy systems. These are also the metals TMC looks to recover utilizing this platform.
United States Antimony Corp. (NYSE: UAMY)
While it doesn’t focus on seafloor mining, US Antimony is one of the mining penny stocks traders are watching right now. The company has built its model around efficient antimony production in Los Juarez.
A recent operations update revealed what the company’s growth-driven initiatives have managed to yield so far this year. In particular, the total sold tonnage for January and February 2022 jumped more than 45% compared to the same period last year. Meanwhile, tons of antimony trioxide solder increased 130% during the same period, with average sale prices up more than 90%.
Antimony as a material has several uses, including in storage batteries. Meanwhile, things like Antimony oxide have more industrial uses, including in the production of resins for fiber and film.
Orbital Energy Group Inc. (NASDAQ: OEG)
With renewable/green energy in mind, Orbital Energy Group shares are back in the spotlight. The company operates through multiple subsidiaries, including those focused on electric power and renewables.
Earlier this week, Orbital reported its Q4 and full-year 2021 results showing record numbers. In particular, Q4 revenues of $41 million marked a significant milestone in the company’s history. These were also significantly higher than the $24.8 million from the prior quarter. Orbital’s latest acquisition of Front Line Power has become a hot topic for those looking into OEG stock. In his words, Jim O’Neil, Orbital’s CEO, explained, “…Our acquisition of Front Line Power in the quarter was transformational for our company, by providing a significant base of recurring, profitable revenue streams with strong organic growth opportunities for years to come.”
With the majority of Orbital’s revenue coming from electric power, a robust market in 2022 has been a bright spot for those looking at energy penny stocks.
B2Gold Corp. (NYSE: BTG)
Finally, you can’t discuss recessions stocks without mentioning gold and precious metals. When people are looking for ways to hedge in an economic downturn, gold stocks tend to become a firm target. Whether or not we enter a recession and whether or not gold stocks rise simultaneously is something to be seen. But if history repeats itself in that sense, precious metals stocks could be a focus.
B2Gold Corp. is one of the gold penny stocks gaining ground in the stock market this year. Since January, BTG stock has climbed from under $3.50 to over $4.60 this week. Part of the recent uptick in action seems to have also stemmed from positive Q4 and full-year 2021 results reported on March 22nd. The company also updated “significantly increased” mineral resource estimates for its Anaconda near its Fekola Mine in Mali.
“This additional feed from the Anaconda area to the Fekola mill has the potential to provide immediate value to B2Gold and the State of Mali, B2Gold ‘s partner in the Anaconda area, and communities near the project, and create significant long-term benefits for the Government of Mali as well as employment opportunities and value generation for the communities located both near the Menankoto deposit, regionally and nationally,” explained B2Gold in a March press release.
Penny Stocks To Watch For April 2022
In most cases, recessions stocks may become more of a focus as rate hikes continue and more economic data posts this year. This could prompt interest in more safe-haven-type stocks. Additionally, recent discussions from the White House have placed clean energy companies in focus. A statement from the White House said, “By reducing our reliance on China and other countries for the minerals and materials that will power our clean energy future.”
The U.S. President also commented on electric vehicle and battery manufacturing investments, particularly in North Carolina. This included a $4 billion investment for job creation. This is just one initiative bolstering progress in EV manufacturing.
“Since taking office, we have implemented an industrial strategy to revitalize domestic manufacturing with create good-paying American jobs, strengthen American supply chains, and supercharge the industries of the future like electric vehicles…”
Given the current events fueling volatility in the stock market today, April could be an interesting month for penny stocks.
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