3 Penny Stocks to Add to Your November Watchlist
As we continue to traverse through November, penny stocks are showing solid momentum. While there is a lot of uncertainty surrounding the future, many investors are confident about the future of the stock market. Right now, one of the biggest concerns for both penny stocks and blue chips is inflation.
Following the Fed meeting that stated that the Gov’t would slow its bond-buying program, many believe that inflation will continue to occur, including Fed. Chair Jerome Powell. Now, it’s also worth noting that as a result of heightened inflation, there could be plenty of opportunities to make money with penny stocks for investors of all types.
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But to do so, investors should think outside of the box and consider all the options available. This means looking at different industries and understanding how they could be affected by inflation, the pandemic, and other ongoing factors in late 2021. So, with that in mind, let’s take a look at three penny stocks to watch in November 2021.
3 Penny Stocks to Watch in November 2021
- B2Gold Corp. (NYSE: BTG)
- Senseonics Holdings Inc. (NYSE: SENS)
- Invesco Mortgage Capital Inc. (NYSE: IVR)
B2Gold Corp. (NYSE: BTG)
B2Gold Corp. is a mining stock that has climbed by over 21% in the past month. That is a solid gain considering that gold stocks don’t typically rise by large margins on a short-term basis. If you’re not familiar, B2Gold as its name suggests is a company that produces gold at three operating mines. These operating mines are located in Mali, the Philippines, and Namibia. The mines at these locations include the Fekola Mine, Masbate Mine, and Otjikoto Mine. It also has an interest in the Kiaka Project located in Burkina Faso. In addition to these operating mines, B2Gold has other evaluation and exploration assets.
On November 2nd, B2Gold Corp. reported its operational and financial results for the third quarter and first nine months of 2021. During the third quarter, its total gold production was 310,261 ounces which is above its budget by 7%. It also reported consolidated gold production of 295,723 ounces from its three operating mines, which was also above budget by 7%. The Fekola Mine and Otjikoto mines both reported record quarterly gold production in the third quarter. As a result of this positive gold production and other positive results, B2Gold increased its annual production guidance range.
The company has now stated that it is conducting an aggressive exploration campaign this year with a budget of $66 million, excluding its Gramalote Project. B2Gold is predominantly focused on mali, other sites in Namibia, and the Philippines as well as grassroots exploration programs around the world. Over the last month, BTG stock has been growing in value. Keeping this in mind, will BTG be on your list of penny stocks to watch?
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Senseonics Holdings Inc. (NYSE: SENS)
Senseonics Holdings Inc. is a biotech penny stock that has climbed by over 11% in the past five days and more than 18% in the past month. But, what really makes SENS stock stand out is its six-month, YTD, and one-year gains of 96%, 316%, and more than 910% respectively. These are very solid figures and show both sizable and consistent growth.
If you haven’t heard of Senseonics, it creates continuous glucose monitoring or CGM systems for diabetes patients. Senseonics is involved in the development and commercialization of these products. It primarily offers Eversense and Eversense XL, which are implantable CGM systems. These systems measure glucose levels in those with diabetes through an under-skin sensor. Eversense also uses a removable and rechargeable smart transmitter, and an app for real-time monitoring.
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The latest update from Senseonics came on from October 4th. This is when the company announced equity grants to employees under its 2019 Inducement Plan in accordance with NYSE American Company Guide Section 711 (a). 11 new non-executive employees were granted non-qualified stock options to purchase 74,000 shares of its common stock.
Moving forward, Senseonics plans to release its third-quarter earnings for 2021 on November 9th. This is potentially when we will see more significant movement from SENS stock. The earnings will come out after the market closes, and a conference call discussing the performance will take place on the same day. Ahead of these financial results, SENS stock has been man ing considerable moves with investors hoping for the best. Noting this info, will SENS be on your penny stock watchlist?
Invesco Mortgage Capital Inc. (NYSE: IVR)
Invesco Mortgage Capital is a real estate investment trust (REIT) that has a primary focus on investing, financing, and managing residential and commercial mortgage-backed securities. In addition, it managed a wide variety of other mortgage assets. What’s worth noting is that the company invests in residential mortgage-backed securities and commercial mortgage-backed securities guaranteed by a US government agency or federally chartered corporation.
On November 3rd, the company reported its third-quarter financial results for 2021. Invesco’s net income per common share was $0.17 compared to a net loss per common share of $0.34 last quarter. Its earnings available per common share of $0.10 was the same as last quarter, as well as its common stock dividend of $0.09. Invesco reported an economic return of 4% compared to a 9.6% loss last quarter.
“We are pleased to announce earnings available for distribution of $0.10 per common share for the third quarter of 2021. Earnings available for distribution was supported by strong dollar rolls, slow prepayment speeds on our specified pool collateral, and attractive returns on equity on new investments.”
CEO of Invesco, John Anzalone
In the past five days, shares of IVR stock have climbed by around 3% and in the past year by around 14%. While these gains are nothing to write home about, they are substantial for a REIT, and especially so during the pandemic. This penny stock’s volume is also much higher than its average, indicating its recent popularity. With this to note, will IVR stock make your watchlist?
Can You Make Money With Penny Stocks in 2021?
The short answer to this question is that it truly depends on what type of trader you are and whether you’re willing to put in the work.
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Because there are so many penny stocks to choose from, understanding where the momentum is and how to take advantage of it will give you the best chance at making money with small caps. With all of that considered, which penny stocks are you watching in 2021?
