3 Penny Stocks For Your Under $5 Watchlist in November
If you’re looking for penny stocks to buy under $5, there are hundreds of options to choose from. Because of the sheer number of penny stocks out there, the potential to make money is limitless. But, we also have to consider that there is an equal opportunity to lose money with penny stocks without the right strategy and information. So, when it comes to finding penny stocks to buy, there are a few things to understand.
First and foremost, investors need to have a thorough idea of the ins and outs of the company they’re interested in. This means looking at balance sheets, press releases, and any industry-wide information that may relate. Having information by your side is the best way to ensure long-term and short-term success. Too many investors will stumble upon a penny stock online or through other trending means, and decide to invest without doing any further research.
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And, this can often lead to swift losses and unexpected price movement. Because there is so much movement in the stock market, there is a lot of momentum to take advantage of. But, to do so involves thinking outside of the box and considering what events could lead to certain price movements.
3 Penny Stocks to Watch Right Now
Camber Energy Inc. (NYSE: CEI)
Camber Energy Inc. is a penny stock in the oil and gas industry that recently increased by more than 6%. This company purchases and develops land for the production of crude oil, natural gas, and natural gas liquids, which it then sells to a variety of customers. Camber Energy reports that it had estimated proven reserves of 133,442 million barrels of oil equivalent as of March 31, 2020.
Back in August, Camber received an exclusive intellectual property license for a patented carbon capture device. The ESG Clean Energy System generates clean power from internal combustion engines and uses waste heat to absorb the majority, if not all, of CO2 emissions while remaining efficient. Viking Energy Group Inc. engaged in this license agreement with ESG Clean Energy LLC through its subsidiary.
“In my view, this transaction positions us as an industry leader in terms of being able to assist with the power generation needs of commercial and industrial organizations while at the same time helping them reduce their carbon footprint to satisfy regulatory requirements or to simply follow best ESG-practices.”
The President and CEO of Camber, James Doris
In the past six months, shares of CEI stock have shot up by over 100% and more than 45% in the past month alone. Noting this info, will CEI stock be on your penny stocks watchlist as November continues?
Yamana Gold Inc. (NYSE: AUY)
Yamana Gold Inc. is a mining penny stock that produces a variety of precious metals. The corporation produces gold and silver in a number of countries around the world. It also owns development-stage assets, exploration properties, and land positions all over the world. Yamana has operations across the Americas, including Canada, Brazil, Chile, and Argentina.
On October 28th, the company announced its third-quarter results for 2021. Yamana indicated that it is still on schedule to fulfill its goal of 1,000,000 gold equivalent ounces by the end of 2021. Yamana reported net earnings of $27 million for the quarter or $0.03 per basic and diluted share. Its mine operating earnings climbed by 8% quarter over quarter to $154 million.
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Yamana is also working on multiple new developments at the moment. One of these is the Wasamac project, in which Yamana provided a positive update for. The company expects to get all approvals, certificates of authorization, and permits by the third quarter of 2024. The time to construct and process plant commissioning is estimated at about 2.5 years with an underground crusher and conveyor system planned to six months after. In the past five days, shares of AUY stock have shot up by over 4%, which is quite substantial for a mining company Now that you know of its latest developments, will AUY stock be on your watchlist moving forward?
IAMGOLD Corporation (NYSE: IAG)
IAMGOLD Corporation is a gold stock that shot up by over 6% during trading today. On November 5th, the company’s volume is larger than its market average at over 3 million. This company identifies, develops, and operates gold mining properties in a variety of locations. These mining assets are primarily located in the Americas and West Africa. IAMGOLD Corporation has involvement in the Rosebel, Essakane, and Westwood mines, among others.
On November 3rd, the company reported its third-quarter results for 2021. IAMGOLD stated that it had attributable production of 448,000 ounces YTD in 2021. The company’s mine-site free cash flow was $121.6 million, and it had an adjusted EBITDA of $265.7 million in the same period. IAMGOLD also reported total available liquidity of $1.2 billion, including $728.3 million in cash and cash equivalents. Quarter over quarter, IAMGOLD’s revenue increased from $265.6 million to $294.1 million.
“The third quarter of 2021 saw improvement in our operating performance supported by the continued strong results at Essakane. Rosebel performed in line with the revised plan. Construction activities at Côté continue to proceed well, reaching 36% project completion at quarter-end. First steel installation of the plant building commenced in mid-October, and the project remains on track for commercial production in the second half of 2023.”
CEO and President of IAMGOLD, Gordon Stothart
Based on this new information, will IAG be on your list of penny stocks to watch next week?
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy in 2021 can be challenging. With so many different impacting factors going on simultaneously, it can be difficult to keep up with the volatile market momentum.
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But, because there is so much going on, there is also plenty of movement to take advantage of. So, considering all of this, which penny stocks are you watching right now?
