4 Penny Stocks To Watch Next Week
With March showing a great deal of bullish resiliency for penny stocks, many investors focus on energy-related companies. While oil and gas stocks are popular right now, sometimes it’s important to consider alternatives. We all know that the world is heading toward renewable energy reliance.
Now it will take some time to get there, but there are plenty of companies making big waves in the meantime. Green energy and renewable energy penny stocks have become very popular among both short-term traders and long-term investors. With Biden working to bring the U.S. towed renewable energy dependency in the next few decades, traders are searching for the best green energy penny stocks to watch.
There are plenty of options in this sector. This includes solar companies, battery and material producers, and even mining companies or shipping stocks. With so many options, investors should always search for the best company in a particular market. The process of doing this involves looking at what a company is doing and comparing it to other penny stocks in similar industries.
With this, investors can be sure that they are finding the best penny stocks to watch. So with a pro-energy government in place, and the world working toward being renewable dependence, the future could be in the energy sector. Here are four energy-related penny stocks to watch.
Penny Stocks to Watch
- Northern Dynasty Minerals Ltd. (NYSE: NAK)
- Castor Martime Inc. (NASDAQ: CTRM)
- Denison Mines Corp. (NYSE: DNN)
- Aqua Metals Inc. (NASDAQ: AQMS)
Northern Dynasty Minerals Ltd.
NAK is one of the penny stocks that we’ve discussed frequently. In the past few months, the company has gone through some major ups and downs due to new management changes. Regardless, the company’s main focus is on the Pebble Project in Alaska. This project has been an ongoing development for the company, but several legislative issues have halted progress.
This includes major pushback from the U.S. Army Corps of Engineers. After the Army Corps denied a proposal for the project, Northern Dynasty submitted an appeal. This appeal was accepted a few weeks ago, which means that progress could be seen in the foreseeable future. The appeal states that there are several incorrect factors in the Army Corp’s denial of the proposal.
In a 56 page request, the Army Corp. could hopefully change its mind in the foreseeable future. The main bullish sentiment behind NAK is the potential of the Pebble Project and if it can continue. Although there are legal proceedings in the works, investors have high hopes for this project to begin shortly. But right now, it is mostly speculation driving the stock’s price.
While we wait for a decision, NAK stock remains quite volatile. But, the USACE guidelines state that the appeal process could be completed within 90 days. However, there is the potential for an extension. With this property, NAK could be entering the energy market in a big way considering the raw materials that it would gain immediate exposure to. So, for now, NAK could be worth watching.
Castor Maritime Inc.
CTRM is another company that is we have discussed frequently on our list of penny stocks to watch. Shares of the shipping company have seen a lot of bullish interest in the past few weeks. While CTRM is not necessarily an energy company, it does ship raw materials and energy commodities. This means that it has seen some ancillary gains due to bullish interest surrounding the broader energy market.
Last week, Castor announced that it had received its newest vessel known as the M/V or Magic Venus. The ship comes with a charter agreement as well as a full plan for its future. The company states that “the M/V Magic Venus is expected to commence employment under a time charter agreement on or about March 5th, 2021, with a daily gross charter rate of $18,500 and an expected term of between minimum five to about seven months.”
It expects to bring in around $2.8 million in gross revenues if the minimum schedule is accomplished. If it works out the maximum scheduled period, the company could bring nearly $4.2 million in revenue. During pre-market hours on March 12th, CTRM announced a Kamsarmax dry bulk carrier for $16.5 million. With this, it should add a new revenue stream to its shipping operations.
While it may take some time before this new vessel goes into operation, this is definitely encouraging for investors to consider. Also, on March 11th, it took delivery of the M/T Wonder Polaris. The company states that this shop could bring in a gross daily hire amount of $15,000. It plans to complete this transaction via the cash it has on hand.
Denison Mines Corp.
As far as alternative energy goes, nuclear has always been on the back burner. While several tragic instances have retracted faith in this energy source, nuclear remains one of the most powerful and sensible ways to generate power. According to a report done by the Nuclear Innovation Alliance, “even with the recent growth in wind and solar power, nuclear energy still provides more carbon-free electricity nationwide than all other sources combined.”
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While Denison Mines is not a producer of nuclear energy, it does mine uranium. This is the most critical part of the production of nuclear energy. The company is currently working on building new methods to produce uranium more efficiently.
It is doing this through the use of in-situ recovery methods. These allow it to extract very high-grade uranium ore at a maximum efficiency level. The company presents itself as a low-cost producer of uranium with more than enough capital to continue operations. While many similar energy penny stocks have been working to raise capital, DNN states that it has plenty of funds to sustain itself into the near future.
Because of the large focus on finding alternative energy sources, companies like Denison continue to be on the list of energy stocks to watch.
Aqua Metals Inc.
Aqua Metals Inc. is often talked about alongside electric vehicle penny stocks. This is because it is a recycler of metals used in the production of batteries. The company utilizes its AquaRefining technology, which can produce refined materials with less pollution than standard methods.
Additionally, with this, it can create ultra-pure lead at a purity rate of 99.9996%. Recently, Aqua Metals has worked on utilizing this production method for lithium-ion batteries. These are the batteries that are in everything from electric vehicles to TV remotes and more.
It invested into LINICO Corp., which is a start-up working on producing sustainable methods for lithium-ion reclamation. The investment into LINICO was made in partnership with other similar businesses, including Comstock Mining Inc. (NYSE: LODE). Because EV penny stocks are so heavily in focus now, many investors are looking at companies like Aqua Metals.
After regaining compliance with the NASDAQ’s listing requirements, shares of AQMS have since seen a great amount of bullish interest. Since December of last year, shares of the recycling company are up over 280%. With investors continuing to seek out alternative energy penny stocks, AQMS could be one to watch.