Are These Coronavirus Penny Stocks On Your Radar?
While many thought it was over, coronavirus concerns have gotten new life. Those looking for all penny stocks related to the disease have gotten some play over the last few months. Needless to say, concerns subsided earlier this week but have since gotten a breath of fresh air.
Updates include schools in Italy shutting down, changes to movie theater logistics, and a new cruise ship is being held off the coast of California. There are more than 90,000 cases with 3,000 deaths so far. On top of this, OPEC has agreed to a massive oil supply cut to offset the impact of the virus. While the full decision is awaiting approval by Russia, speculation has seen most energy stocks slump on Thursday.
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What’s doing well? If you’ve been following our constant coverage of the virus since January, you know two sectors have been on fire: Biotechnology and Gold/Mining. The fact that we’ve already seen penny stocks like Inovio Pharmaceuticals (INO – Stock Report) explode is a clear sign coronavirus stocks are a big focus right now. It was one of the stocks we were first in identifying as a potential coronavirus stock to watch back in January. Prior to that, we’d followed it based on progress back in December with VGX-3100. However, with this in mind, it’s important to understand speculation is helping to drive some stocks as well. So it’s important to do plenty of research. Here’s a look at a list of penny stocks to watch as coronavirus concerns build back up.
Coronavirus Penny Stocks To Watch: IMC International Mining
First, on this list of penny stocks, IMC International Mining (IMIMF – Free Report) (IMCX) has gained attention after junior gold stocks surged this week. The importance right now for this junior gold company is timing. A few weeks ago, IMC announced entry into a letter of intent to acquire Thane Minerals, which owns the Cathedral property in Canada. Located in the Quesnel Terrane, which hosts past and planned production.
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.
So, why is the timing of importance with IMC? A few days ago the company announced that it plans to close the deal on or before March 15th. The fact that gold prices are surging could further emphasize the timing scenario for the company. The Thane acquisition would further add to IMC’s current asset portfolio.
Its current 100% owned Bullard Pass Property in Arizona could also hold untapped potential. In an amended and restated NI 43-101 Technical Report, the author suggests that the Bullard Pass property is a “property of merit and further exploration is warranted.” The property had historic production totals that were 614,000 pounds of copper, 3,600 ounces of gold, and 15,000 ounces of silver from 17,000 tons mined.
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.
Coronavirus Penny Stocks To Watch: iBio Inc.
iBio Inc. (IBIO – Stock Report) is another one of the top coronavirus penny stocks that has surged over the last few weeks. While many have praised it amid the outbreak, PennyStocks.com has reported on it since December. At the time, IBIO stock traded around $0.25. As of premarket trading on Thursday, shares reached highs of $3.27.
Most recently the company announced plans to develop a plant-based coronavirus vaccine with CC-Pharming. The company plans to use its FastPharming facility, designed for rapid delivery of medical countermeasures to treat a pandemic. The partnership also leverages CC-Pharming’s work on MERS, another coronavirus, and iBio’s manufacturing processes in plant-based systems. On top of that, the company wooed investors after withdrawing a proxy statement for a proposed reverse split.
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IBIO stock has jumped as high as $3.40 over the last few weeks. These latest coronavirus fears have stirred up more attention for stocks involved. Will this penny stock reach new highs this week amid these latest developments?
Coronavirus Penny Stocks To Watch: Heat Biologics
We reported over the weekend that Heat Biologics (HTBX – Stock Report) could be a focus of investors this week. The key component in that story: immune system treatment. Speculation started building around the company’s pipeline of cancer drugs. But just like other immune therapy companies that have fallen into the basket of “coronavirus stocks,” HTBX began to see some buzz. Sure enough, this week the company reported filing an 8K citing a patent application dealing with the treatment of SARS-CoV-2 virus that causes coronavirus.
Since then, the heat has been on Heat Biologics. The company also appeared on ABC11 to discuss its newly launched program to develop the vaccine. On Thursday the company further added to the excitement with news of a research collaboration with the University of Miami. This is to develop a vaccine to actually protect against the coronavirus.
“T-cell immune responses play a crucial role in protection against coronaviruses and facilitation of coronavirus clearance. It is noteworthy to mention that not antibodies, but only SARS-CoV-specific memory T-cells persisted up to 11 years post-recovery. Therefore, an effective coronavirus vaccine should induce neutralizing antibodies and elicit specific memory CD8 T cell responses,” said Dr. Natasa Strbo, M.D., D.Sc ., research assistant professor of microbiology and immunology.
Coronavirus Penny Stocks To Watch: Ritter Pharmaceuticals
Ritter Pharmaceuticals (RTTR – Stock Report) is another one of the penny stocks to watch that we’ve discussed frequently. In the article “Want To Buy Penny Stocks? 4 Names To Know Right Now” we highlighted Ritter’s focus on a strategic deal. In line with this, the company has formally announced a definitive agreement to merge with Qualigen Inc. The deal also will have Ritter change its name.
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But the name change isn’t why RTTR is on this list of coronavirus stocks right now. Qualigen has a portfolio of nanotech therapies for treating cancer and infectious diseases. Assuming we can count coronavirus in the infectious disease category, it makes sense why RTTR stock has taken off.
Qualigen’s website shows a strong focus on cancer treatments. But as you will remember from Heat Biologics above, immune therapy could be a big key to a coronavirus vaccine. While no other news was released, it will be interesting to see what comes next from this new deal and if Qualigen will respond to coronavirus speculation.
Coronavirus Penny Stocks To Watch: Yamana Gold
While many will focus on biotech penny stocks for a coronavirus hedge, some smart-money bets are placed on gold stocks. Yamana Gold (AUY – Stock Report) has been on the move this week. In fact, ever since last week’s sell-off, shares of Yamana gold stock have surged.
Last Friday the gold penny stock hit lows of $3.56 and by March 5, AUY stock already broke to highs of $4.35 just after the opening bell. One of the bigger picture things when it comes to gold stocks like IMC International – mentioned above – and Yamana is that gold might be more than just a hedge against coronavirus fears. Seen as a safe-haven, gold stocks thrive on several economic metrics. A low-rate environment, stock market volatility, economic uncertainty, etc. These are all things that can drive gold prices higher, historically.
As we’ve seen from Yamana, it’s not only the gold price movement but also the company’s ability to execute, too. At the end of February, the company along with New Dominion Resources continues to evaluate the joint venture in Canada. “Considering the significant amount of drilling that has been completed at Main Zone, together with the potential for new discovery, we feel strongly that the project has the potential to grow rapidly,” said New Dimension CEO Eric Roth in a statement. This also comes after Yamana has focused on streamlining its growth plan, selling off assets, and even creating a new Royalty portfolio to the tune of $65 million.
Disclaimer
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.
