3 Hot Penny Stocks For Your Year-End Watchlist
As we continue to barrel toward the end of the year, there are plenty of penny stocks that are piquing investor interest. But, to understand which penny stocks could be worth buying, investors have to examine each factor that is at play in the market and how to take advantage.
Right now, the main impacting factor on the stock market is Covid and the recently popularized Omicron variant. While the variant is more contagious than previous iterations, it is potentially less lethal and symptomatic. However, the rise of cases globally in places like South Africa and more recently, the U.K., has investors slightly panicked about the future. However, it does seem as though this panic has played out more or less in trading throughout the last week or two.
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In addition to this, we have the upcoming Fed meeting and high inflation in the U.S. These have both contributed greatly to overall volatility in the past week or so. Considering all of this, let’s take a look at three penny stocks to watch with the New Year around the corner.
3 Penny Stocks to Watch With the New Year Around the Corner
Gran Tierra Energy Inc. (NYSE: GTE)
Gran Tierra Energy Inc., with its portfolio of assets throughout South America, specializes in oil and natural gas exploration and production. Colombia is the source of the company’s main output, which accounted for $35 million in revenue last quarter. As of December 31, 2020, it had proved undeveloped reserves of 26.2 million barrels of oil equivalent in Colombia alone. In the future, the firm intends to explore more growth prospects in order to broaden its portfolio.
Gran Tierra Resources Limited, the company’s wholly-owned subsidiary, stated on November 25th that it had accomplished a new feat. The business received $30.1 million in private acquisitions for the sale of 137,093,750 PetroTal shares. This transaction was completed at a price of $0.2198 per acquired share.
Gran Tierra intends to utilize the funds to pay down debt and for other company objectives. With rising gas prices around the country, we may see increased interest in firms like Gran Tierra going into 2022. This can already be seen as GTE stock has increased in value over the last 6 months. From December 6th to December 10th, GTE stock went from $0.68 per share to $0.73 per share. In addition to this, GTE stock has risen by almost 90% in the past YTD period. Noting this, will GTE stock be on your penny stocks watchlist next year?
Yamana Gold Inc. (NYSE: AUY)
Yamana Gold Inc. is a precious metals producer that has seen a slight bullish turnaround in the past few months. Its development stage properties, exploration sites, and land holdings produce substantial quantities of gold and silver. These sites are located in nations all across the world, including Canada, Brazil, Chile, and Argentina. Yamana seeks to expand and optimize its existing operational mines, develop new mines, advance its exploration properties, and, on occasion, pursue additional consolidation opportunities in order to grow its company.
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The company revealed its third-quarter results for 2021 on October 28th. Yamana claimed that it is on pace to meet its goal of producing 1,000,000 gold equivalent ounces by the end of 2021. In the third quarter of this year, Yamana earned $27 million, or $0.03 per basic and diluted share. Also in the third quarter, the company’s mine operating earnings climbed by 8% to $154 million.
In the report, the company said, “Yamana believes that a strong financial position and financial resilience also requires a manageable debt maturity profile, and the Company has taken advantage of current market conditions to improve terms of its outstanding notes by increasing tenor and reducing carrying costs.” Amid its recent results, will AUY be on your list of penny stocks to watch?
Denison Mines Corp. (NYSE: DNN)
Denison Mines Corp. is a penny stock we’ve mentioned frequently due to its upwards momentum in 2021. If you’re not familiar, Denison is a mining company based in Canada. Denison’s primary business is the exploration and development of uranium assets. The Wheeler River uranium project in northern Saskatchewan is the company’s flagship project.
Denison’s third-quarter 2021 results were revealed on November 4th. The company stated that it had completed its 2021 ISR field test program at the Phoenix uranium mine. Phoenix has now progressed to the feasibility study stage, with Wood PLC serving as the lead author.
“With increased interest in the uranium market and a recent lift in both spot and long-term uranium prices, we are encouraged that future utility customers are returning to the market and looking at Denison’s Wheeler River project as a potentially viable source of reliable and low-cost future supply.”
President and CEO of Denison, David Cates
At the start of 2021, DNN stock was worth $0.67 per share on average. Now, DNN stock is at $1.35 per share as of December 14th. This represents a YTD increase of over 100%. Right now, it’s also worth noting that the renewable energy industry is on fire. And, while Denison is not a pure-play clean energy stock, uranium derived power could be the future. For this reason, many investors have been watching DNN stock as a sizable player in this industry. As a result of this growth, will DNN be on your penny stock watchlist in December 2021?
Which Penny Stocks Are on Your Watchlist Right Now?
With so many penny stocks to choose from, it can often seem like a daunting task to pick just a handful for your watchlist. However, with careful consideration as to what’s going on in the stock market, making money with penny stocks can be easier than previously imagined.
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If we consider that there is also a large amount of volatility in the market, we see that there is plenty of momentum to take advantage of. Considering all of this, which penny stocks are on your watchlist right now?
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