7 Hot Penny Stocks to Watch in July 2021
With July off to a great start already, which penny stocks are investors watching? Well, it’s difficult to make a concrete list because every investor has different portfolio goals. But, every investor has the same goal; profits. For that reason, it is extremely important to make a watchlist with companies that could show either long or short-term profitability.
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This can be deduced by looking at what a penny stocks trading patterns are, what business prospects it has in the works, and what the factors are that make it move. These questions alone should help to deduce a decent estimate of what trading could look like. And in July of 2021, there are plenty that are showing potential. So, with all of this in mind, here are seven penny stocks that investors are watching right now.
5 Top Penny Stocks For Your Watchlist
- NexGen Energy Ltd. (NYSE: NXE)
- New Gold Inc. (NYSE: NGD)
- McEwen Mining Inc. (NYSE: MUX)
- Clearside Biomedical Inc. (NASDAQ: CLSD)
- PHX Minerals Inc. (NYSE: PHX)
NexGen Energy Ltd. (NYSE: NXE)
NexGen Energy Ltd. is an exploration and development-based company, working in the energy sector. It acquires, explores, and evaluates uranium properties to develop a vast quantity of resources in Canada. Its main asset is the Rook I project in the Athabasca Basin, Saskatchewan. The project consists of 32 contiguous mineral claims totaling an area of 35,065 hectares.
On June 24th, NexGen announced that it will list on the Australian Securities Exchange (ASX). This took place on July 2nd, under the ticket “NXG”. So why did NexGen decide to take this step? The CEO Leigh Curyer explained all in a press release stating, “NexGen has grown a substantial investor following in Australia and the Asia Pacific region since its founding in 2011. At present, approximately 30% of NexGen’s outstanding share capital is held by investors in the region. Given the stage of the Company’s development, the exceptional economic strength of the Rook I Project, and the accelerating demand for the responsible production of clean energy worldwide, it is time to broaden the exposure of NexGen through a dual listing onto the ASX.”
On the day of its ASX listing, its NYSE price did reflect any major movement, up 0.94%. The company’s volume was slightly lower than its average on July 2nd as well. But could this new ASX listing have long-term effects on NXE stock? NexGen Energy’s growth right now is impressive. NXE stock has gone from $2.66 per share on average on January 4th, 2021, to $4.30 per share as of July 2nd. Considering this, will NXE stock make your watchlist this week?
New Gold Inc. (NYSE: NGD)
New Gold Inc. is a mining penny stock that develops and operates mineral properties. The company explores for gold, silver, and copper deposits. Its main properties include the Rainy River gold-silver mine and New Afton gold-copper mine of which it owns 100% interests in both. It also operates the Cerro San Pedro gold-silver mine in Mexico.
There is not much new company-specific news that has come from New Gold. In early June the company provided an exploration update at its New Afton mine that seemed positive. NGD stock will often move with the price of gold itself in the market. So, when gold increased in price on July 2nd, so did NGD stock.
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In the last year, the company has experienced a lot of big spikes, while albeit momentum has been infrequent. These frequent moves are what continue to interest investors in the company. With all of this being said, will NGD make your list of penny stocks to watch as we move into the rest of July?
McEwen Mining Inc. (NYSE: MUX)
McEwen Mining Inc. is a gold penny stock that explores, develops, produces, and sells gold and silver. It primarily sells its product in the United States, Canada, Mexico, and Argentina. Additionally, it owns a 100% interest in the El Gallo, Fenix, Black Fox, Stock Mill, as well as many more properties.
On June 25th, McEwen announced that it has acquired 4,963,455 common shares of NevGold Corp. It also has share purchase warrants exercisable to acquire an additional 2,481,727 common shares of NevGold at $0.60 per share until June 22nd, 2023. These securities were given to McEwen in partial consideration for the sale of the Limousine Butte and Cedar Wash projects. The company aims to use these securities for long-term investment purposes.
It’s worth noting that MUX stock tends to move with the price of gold and silver. So when gold and silver prices went up on July 2nd, MUX stock went up by 3.68% in the market. MUX stock has grown from $1.05 per share to $1.41 per share as of the 2nd. Whether this makes MUX worth watching or not is up to you.
Clearside Biomedical Inc. (NASDAQ: CLSD)
Biotech penny stocks like Clearside Biomedical Inc. have been performing very well in the market lately. This company in particular is focused on developing and delivering treatments for those with serious eye diseases. Its treatments are designed to restore and preserve vision for patients suffering from related ailments. One of its flagship compounds, CLS-AX is an axitinib for suprachoroidal injection, which is in Phase 1/2a clinical trial.
CLSD momentum is currently holding strong after its June 15th announcement. This is when the company announced positive safety results from cohort 1 of its OASIS Phase 1/2a clinical trial of CLS-AX.
“The initial data from Cohort 1 clearly achieved our safety and tolerability endpoints. While still early and recognizing there are a limited number of patients, we believe the Cohort 1 data supports our hypothesis that the combination of targeted and compartmentalized suprachoroidal delivery and the potent pan-VEGF attributes of axitinib may facilitate an effective treatment option for patients suffering from wet AMD.”Chief Medical Officer and Chief Development Officer of CLSD, Thomas A. Ciulla
Now in the last month, CLSD stock has increased in value significantly. The company went from $2.80 per share on June 3rd, to $5.37 per share on July 2nd. This momentum is a clear sign that CLSD is showing positive movement. On July 2nd alone, CLSD stock increased by nearly 11.4%. Noting the above information, is CLSD a contender for your list of biotech penny stocks to watch?
PHX Minerals Inc. (NYSE: PHX)
PHX Minerals Inc. is an oil and gas penny stock that is based in the United States. PHX produces and sells natural gas, crude oil, and natural gas liquids. It currently owns 253,000 net mineral acres. Its properties are located in Oklahoma, Texas, North Dakota, New Mexico, and Arkansas. As of September 30th, 2020, PHX Minerals had proved reserves of 57.7 Bcfe which it sells to pipeline and marketing companies.
In the last year, PHX stock has gone up in the market. One year ago PHX stock price was at $2.74 per share on average, and the company is now at $4.21 per share as of July 2nd. A lot of this momentum comes from just the last month, in which PHX stock price has gone from $3.20 per share to $4.20 per share. On the 2nd of July, the company’s stock price went up by more than 11%. This is amid no company-specific news other than its second-quarter results released a few months ago. Keeping this information in mind, will PHX stock make your watchlist?
2 More Hot Penny Stocks to Watch
Are These Penny Stocks on Your Watchlist?
Making a penny stocks watchlist is one of the most important steps to being a profitable trader. But, with hundreds of options to choose from, finding the best penny stocks to buy can be challenging.
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So, consider what type of investor you are, what your goals are, and what time frame you are looking to invest in. Considering all of this will help to give you the best chance of profitability. With these things in mind, which penny stocks are on your watchlist?