best penny stocks to buy

After a rocky day of trading penny stocks and blue chips yesterday, investors remain excited about a bullish turnaround. In the stock market, we will always witness both periods of ups and downs. And it is this volatile momentum that allows investors to make money with penny stocks. Right now, there is plenty of movement to take advantage of. 

But in order to do so, investors need to have a concrete trading strategy and a commitment to understanding how penny stocks will trade. In addition, investors need to understand what factors are impacting penny stocks right now. 

[Read More] Why These Penny Stocks Deserve a Spot On Your Watchlist Right Now

This includes staying up to date with the news, keeping a close eye on geopolitical events, and looking at the trajectory of the pandemic. Because penny stocks are so speculative, news events are extremely important to consider. So, with all of that in mind, let’s take a look at three penny stocks to watch right now. 

3 Penny Stocks to Watch Right Now 

  1. Gran Tierra Energy Inc. (NYSE: GTE
  2. Farmmi Inc. (NASDAQ: FAMI
  3. New Gold Inc. (NYSE: NGD

Gran Tierra Energy Inc. (NYSE: GTE)

Gran Tierra Energy Inc. is an energy penny stock that has climbed by over 23% in the past five days. This brings its YTD and one-year gains to over 100% and 200% respectively. Right now, there is a lot of bullish sentiment with energy stocks, and especially oil and gas stocks. And, it seems as though GTE is benefitting highly from this. For some context, Gran Tierra is an exploration company that produces at various oil and gas properties located in Colombia and Ecuador. As of December 31st, 2020, it had proven undeveloped reserves of 26.2 million barrels of oil equivalent in Colombia alone.

Its latest update comes from early August when it released its second-quarter results for 2021. The company achieved a second-quarter average total production of 23,035 barrels of oil per day (BOPD). This was a 14% increase year over year for Gran Tierra. Because of this, it has reaffirmed its full-year production guidance and capital program of $130-150 million.

“Despite the challenges with blockades during the Quarter, we are very pleased that we have now safely and diligently ramped operations back up throughout our Colombia portfolio. Although the blockades temporarily impacted Gran Tierra’s production volumes, the stronger Brent oil price environment more than offset the effect of lower production volumes, as demonstrated by our higher oil sales and EBITDA figures.”

President and CEO of Gran Tierra, Gary Guidry

Since the update was released, GTE stock has understandably gone up in the market. However, its recent gains are a mixture of both these results and the current environment in the oil and gas industry. With so much to note, will GTE make your penny stock watchlist this week?


Farmmi Inc. (NASDAQ: FAMI)

Farmmi Inc. is a penny stock that has climbed by around 10% in the past five days. However, for the YTD period, shares of FAMI stock are down by almost 80%. As a result, some investors believe that the company could have value at its current price. If you haven’t heard of Farmmi, it is a company that processes and sells agricultural products.

Farmmi most notably sells fungi products including shiitake, bamboo fungi, and agrocybe aegerila. It actively operates Farmmi Jicai which is an e-commerce platform that sells edible fungi products under the Forasen and Farmmi Liangpin brands. The company also exports dried whole and sliced shiitake mushrooms and dried black fungus to different countries around the world.

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On September 27th, the company won a new multi-product sales order to export products to Israel. This deal is for the company’s dried whole/sliced Shiitake mushrooms and dried black fungus. While the deal itself is big news for the company, it also presents a new export market for Farmmi to work out of. 

“We continue to execute on our business, and drive growth at existing and new customers. We are benefitting from robust demand in traditional geographies, including China, while developing new markets, including Israel. At the same time, we are leveraging our strengthened competitive and financial position to lay the groundwork for our future success, as we prioritize building increased value for shareholders.” 

Chairwoman and CEO of Farmmi, Ms. Yefang Zhang

Since this deal was made, FAMI stock has gone up in the market. It’s worth noting that its volume is more than 7 times its average as well. Considering all of this, will FAMI make your penny stock watchlist?


New Gold Inc. (NYSE: NGD)

New Gold Inc. is a mining company that is based in Canada. New Gold both develops and operates various mineral properties located in North America. Primarily, it searches for gold, silver, and copper deposits at its wide variety of mining properties. Its main locations are the Rainy River mine and the New Afton mine, however, it does hold claim to several others. 

On September 13th, the company updated its operational outlook for the year. The consolidated gold equivalent production at its Rainy River mine is now expected to be between 405,000 and 450,000 ounces, which was previously 440,000-490,000. Because of this most of its guidance numbers slightly fell in price.

“While the reduction in our near-term guidance at Rainy River is unfortunate, I remain confident the mine has reached an inflection point, as evidenced by the free cash flow generated in the second quarter and the mine is on track to deliver an improved second half of the year”.

President and CEO of New Gold Inc., Renaud Adams

While this news may seem unfortunate in the short term, NGD stock could benefit if it can grow in the near future. Despite a less than stellar trading pattern as of late, many investors are showing confidence in the mining industry. Considering all of this, does NGD stock deserve a spot on your list of penny stocks to watch?


Are These Penny Stocks Worth It Right Now?

Finding the best penny stocks for your buy list can be challenging. But, with so many different factors to consider, there is plenty of movement to take advantage of. One of the most important things to keep in mind is to always have a trading strategy and never trade with emotion.

[Read More] 3 Penny Stocks to Watch Amid High Market Volatility

These two things alone will help to give you the best chance at making money with penny stocks. Considering this, do you think that these penny stocks are worth it right now or not?

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