Will These Penny Stocks Make New Highs Before Friday?
Finding the best penny stocks to buy involves a lot of moving parts. For starters, you need to understand some of the basics of trading. Do you know how to trade penny stocks? It seems like an easy question to answer but there are always things to keep in mind before making the big jump into the world of small-cap stocks. Surely anyone can press the buy or sell button, but do you know what to look for before you do?
Getting a list of top penny stocks together takes time. You need to analyze things like sector and industry news. You should also be very aware of what’s going on with the companies on your list, too. In this regard, pay attention to things like corporate filings and even market chatter. As we’ve seen, sometimes this “chatter” can make for interesting trades.
This week we’ve seen the stock market etch new all-time highs. On January 14, however, the market has paused a bit during the morning session. This has turned attention to a few industries that have generally performed well during times of market uncertainty.
Namely, biotech penny stocks and mining penny stocks have performed well especially during times like this. When it comes to mining, investors look for “safe havens” to hedge against financial crises. As for biotechnology, investors turn toward this area of the market as it tends to see less impact from geopolitical events. Here’s a list of 5 penny stocks to watch right now.
Penny Stocks To Watch: Biocept Inc.
First on this list of penny stocks is a biotech name, Biocept Inc. (BIOC – Free Report) that has been a popular stock to watch here and there. Last year we saw BIOC on a few lists during 2019. This week, Biocept comes back as a top penny stock to watch after releasing big news.
On Tuesday (1-14) the company reported that its Target Selector™ assays are now available to doctors. The goal is for these doctors to use the Target Selector™ to evaluate cerebrospinal fluid of patients and check for the presence of circulating tumor cells for patients with breast or lung cancer suspected of brain or nervous system metastases.
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According to the company, the presence of tumor cells in the central nervous system might indicate brain metastases that can happen when cancer has spread to these locations. Thanks to this update, shares of Biocept rallied. Since closing on January 13 at $0.298, BIOC stock managed to hit highs of $0.38 during Tuesday’s morning session.
Penny Stocks To Watch: IMC International Mining
The first mining penny stock on this list, IMC International Mining (IMCX – Free Report) has performed well so far this year. In fact, since January 8, the penny stock has climbed as much as 40%. It’s no secret that junior mining stocks gain attention during times when gold stocks have become more active. In the case of IMC, the company itself is focused on a property in Arizona called the Bullard Pass.
Its property is currently comprised of roughly 3,896 acres in the Harcuvar and Harquahala Mountains in Yavapai County, Arizona. Previous totals for historic production show the district was able to generate over 600,0000 pounds of copper, 3,600 ounces of gold, and 15,000 ounces of silver occurring between 1933 and 1956.
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.
More recent survey data shows soil samples indicate that mineralization exists on the property. The history and geology of the Bullard district were summarized in a geological survey suggesting that “potential exists for a major gold deposit in the area of the Bullard district.” Though the company has not yet begun the mining process, the property appears to favor the potential for gold discovery.
Penny Stocks To Watch: Ferroglobe Plc
The next mining stock on this list is a bit more unique that one focusing only on metals. Ferroglobe Plc (GSM – Free Report) provides silicon and specialty metals. It produces silicon metal as well as manganese-based alloy. Its main customer-base is in specialty chemical, aluminum, solar, steel and other industries. Since November, shares of GSM have climbed by more than 100%.
In its most recent quarterly report, Ferroglobe generated over $380 million in sales. Though this was lower than its previous quarter, the company was able to realize a narrower loss per share than analysts expected. The general consensus estimate was a loss of $0.18 per share. Ferroglobe reported a loss per share of $0.10. With the company’s recent appointment of a new CEO, Ferroglobe appears to be moving forward with its growth strategy.
“Ferroglobe is a global leader in its industry and has significant value which is currently unrealized by the market. I am excited to leverage my prior experiences to implement rapid change to return the Company to profitability…Working with the Company’s Board and management team, I am confident we can unlock tremendous value for all stakeholders.”Dr. Marco Levi, new CEO, Ferroglobe
Penny Stocks To Watch: Hecla Mining
Another one of the mining penny stocks to watch right now is Hecla Mining (HL – Free Report). Shares took a 2-week break from Hecla’s second-half run in 2019. However, on January 14, Hecla stock began to return to its bullish trend.
The stock jumped from $2.98 to highs of $3.18 just after 11:30 AM EST. This week, analysts from RBC raised the price target for the stock from $1.90 to $2.75. However, RBC maintained its “Underperform” rating.
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This came just a few days after analysts at CIBC upgraded Hecla from “Underperform” to “Neutral.” The firm also boosted its price target from $1.75 to $3.75. In its 2019 production update earlier this month, the company reported strong growth. Hecla generated over 270,000 ounces of gold in 2019. It also produced 12.6 million ounces of silver. Specifically, gold production figures were the highest in Hecla’s history.
Penny Stocks To Watch: AK Steel
One of the beneficiaries of China tariffs last year was AK Steel (AKS – Free Report). Shares of the company have quietly climbed from around $1.70 in June of last year to highs of $3.59 in December. This week, AKS stock has managed to turn around a bit after a similar trend as Hecla over the last few weeks.
A lot of market chatter has buzzed about Nucor, the largest US steelmaker, and how it might increase prices for new orders of hot-rolled, cold-rolled, and galvanized sheet by $40 per short ton. Not only did this trigger a rally to certain steel futures but it also helps steel stocks too.
AK Steel, specifically, saw analyst action boost sentiment recently. Deutsche Bank increased its price target to $3 from $2. The company was also recognized by Newsweek and named to the Newsweek 2020 list of America’s Most Responsible Companies. Shares of AKS stock have climbed by a little over 3% on January 14 as of this article.
Pursuant to an agreement between Midam Ventures LLC and IMC International Mining Corp. (CSE: IMCX) (IMIMF), Midam has been paid $200,000 for a period from January 7, 2020, to February 14, 2020. Midam has been paid an additional $200,000 and extended its period of coverage to March 14, 2020. Midam has been paid an additional $200,000 and extended its period of coverage to July 9, 2020. We may buy or sell additional shares of IMC International Mining Corp.(CSE: IMCX) (IMIMF) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about IMC International Mining Corp. (CSE: IMCX) (IMIMF). Full Disclaimer Here