4 Energy Penny Stocks to Keep an Eye On
Over the past week or so, energy penny stocks have been one of the main focal points of investors. There are a few reasons why this is the case. First and foremost, as the pandemic lessens in severity, more people are traveling globally.
This means that the demand for fuel related to travel is much higher than in the past year or so. Additionally, manufacturing is slowly but surely starting to begin again. This means that power needs for the industrial sector are also increasing greatly.[Read More] Best Penny Stocks To Buy According To Analysts, 1 With 95% Target
And with new vaccine milestones being hit every day, the time to find energy penny stocks to watch is now. When looking for penny stocks in the energy sector, the best course of action is to understand where the company fits into the larger market. This includes whether it is a fossil fuel company or one that works in the renewables field.
Additionally, we have companies that help these businesses with operations. These ancillary energy companies are also seeing increased momentum right now. So with all of this in mind, let’s take a look at four energy penny stocks to keep an eye on.
4 Energy Penny Stocks to Watch
- Uranium Energy Corp. (NYSE: UEC)
- Tellurian Inc. (NASDAQ: TELL)
- Torchlight Energy Resources Inc. (NASDAQ: TRCH)
- NexGen Ltd. (NYSE: NXE)
1. Uranium Energy Corp. (NYSE: UEC)
Uranium Energy Corp. is a mining penny stock to watch that has increased in value recently. Uranium Energy explores, extracts, and processes uranium and titanium concentrates. This has become a large industry as uranium is increasingly becoming an energy source of choice around the nation.
It operates out of the United States, Canada, and Paraguay. Currently, Uranium Energy Corp. has an interest in the Palangana mine, Goliad, Burke Hollow, Longhorn, and Salvo projects. These projects are located in Texas, Arizona, Colorado, Wyoming, Canada, and Paraguay.
Mining stocks came into focus last year when traditional stocks fell in value. The demand for materials grew with a lack of supply and caused many types of minerals and metals to go up in value. This includes gold, silver, and of course uranium. Now as reopening continues, many mining stocks are continuing to climb in value. This is due to the amount of usage for minerals increasing, resulting in more demand.
On May 20th Uranium Energy Corp. announced that it acquired an additional 200,000 pounds of U.S. warehoused uranium. It was fully funded with cash on hand and its physical uranium initiative now totals 2.305 million pounds of the element.
In the last 5 days, UEC stock went from $5 a share to $3.30 a share on average as of June 1st. It will be interesting to see the future progress of this mining penny stock as the new month continues. For now, will you be adding UEC to your list of penny stocks to watch?
2. Tellurian Inc. (NASDAQ: TELL)
Tellurian Inc. is an oil and gas penny stock that operates out of the United States. This company is developing a portfolio of natural gas production, liquefied natural gas marketing, and infrastructure assets. This includes 27.6 million tons per annum LNG terminal facility and associated pipeline located in Louisiana. It currently owns 9,373 net acres of natural gas production assets and 72 producing wells.
On May 27th it was announced that Tellurian signed a long-term agreement to supply LNG to Gunvor Singapore Pte Ltd. It will deliver 3 million tons per annum of liquefied natural gas from its Driftwood LNG production and export terminal. This agreement is expected to generate $12 billion in revenues in the next 10 years based on current LNG prices.
“Tellurian intends to market up to 10 mtpa of LNG in our first phase on a JKM, TTF, or blended price basis, as our integrated model provides the flexibility to offer this valuable product. We welcome Gunvor, the largest independent global trader of LNG volumes, to Driftwood and look forward to providing a cleaner fuel to meet growing global energy needs and enable energy access.”The President and CEO Octavio Simoes
If you look at the one-month chart for Tellurian Inc. you will see how much progress the company has been making. One month ago TELL stock was valued at $2.18 per share. Now on June 1st, shares of TELL stock hit more than $4.80 per share. At this rate, TELL stock could leave penny stock status in the future. Considering this, will you add TELL to your list of penny stocks to watch?
3. Torchlight Energy Resources Inc. (NASDAQ: TRCH)
Torchlight Energy Resources Inc. is an oil and gas penny stock that is based in the United States. The company engages in the acquisition, exploration, exploitation, and development of oil and natural gas properties. As of the end of 2020, the company holds interest in three oil and gas projects. These projects are the Orogrande project, Hazel project, and the Hunton wells.[Read More] Popular Tech Penny Stocks in 2021, 4 For Your Small-Caps Watchlist
Oil prices impact TRCH stock because it is one of its primary assets. Oil has been in high demand causing high fuel prices in many places around the world and the United States. The company itself has not released any specific news that is causing its stock price to increase in value.
But on June 1st, TRCH stock is up more than 11% in the market which is boosting investor interest. Its volume is still lower than average, despite this increase in share price. Will TRCH make it on to your list of penny stocks to watch this month?
4. NexGen Energy Ltd. (NYSE: NXE)
Another penny stock to watch that is moving up right now is NexGen Energy Ltd. This is a uranium penny stock that engages in the acquisition, exploration, and evaluation of uranium properties. Its developments include its principal project, the Rook I project, which consists of 32 contiguous mineral claims. These claims total an area of more than 35,065 hectares.
This is another penny stock that has not released any company-specific news that is driving its stock price upwards. NXE stock is moving upwards with the price and demand pf uranium itself. As you have seen with other companies on this list, the demand is strong for uranium right now. However, there is another upcoming factor that could impact NXE stock.
On June 10th, the company will hold its annual and general meeting of shareholders. This could have a large impact on NXE stock depending on what is announced in this shareholder meeting. NXE stock has increased by 7% on June 1st. The company’s stock price has gone up more than 10% in the last 5 days. With all of this in mind, is NXE a contender for your penny stock watchlist in June?
Which Energy Penny Stocks Are You Watching?
Energy penny stocks are some of the most popular penny stocks to watch right now. Whether that’s due to the Covid pandemic, or increased travel as a result, the fact remains.[Read More] Best Penny Stocks to Buy For June? 3 Green Energy Stocks To Watch
Considering this now is the time to find which penny stocks in the energy industry could have the most value moving forward. With the right research on hand, and a commitment to finding the best penny stocks to watch, making a list of energy penny stocks can be easier than imagined. Considering this, which companies are you watching?