Will these mining penny stocks go up in the market?
Everybody has heard of penny stocks at some point if you have been investing in the market. Mining penny stocks are company’s that mine for materials such as gold, silver, copper, and more. Many investors have turned to mining penny stocks under $5 as a way to enter the market at a low cost. Some new traders will think that penny stocks are just a quick way to make a profit, but it is not that simple. While this situation can exist, it is also possible to lose money just as fast as you can make it with these cheap stocks.
There are plenty of mining penny stocks that will reach very high prices on the regular, but does that mean you should buy them? Well, it is very important to look at the trading volume of these companies. If a mining penny stock is at a high price but its volume is below its average, it could potentially underperform soon. While this is not a guarantee, it happens a lot in the market.
One common question that investors may have is, how do you buy or sell penny stocks? There are two types of investments you can make when buying penny stocks. There is long term investing and short term investing. This is a personal choice depending on what your goals are for investing. You should also look at the market for mining stocks at the moment. For example, mining companies are in a volatile position right now because of inflation and the pandemic. Let’s now take a look at three mining penny stocks that could make your watchlist in September 2021.
Top Mining Penny Stocks To Watch
New Gold Inc. (NYSE: NGD)
New Gold Inc. is a mining penny stock we talk about a lot on goldstocks.com. This is due to its frequent momentum in the market. This is a mining corporation that is developing mineral properties in many locations around Mexico and Canada. The company’s current mining projects have a focus on gold, silver, and copper deposits at its mines. Its locations include the Rainy River mine, Afton mine, Cerro San Pedro mine, and a few other mines.
2 days ago, New Gold provided an operational outlook. The company’s consolidated gold equivalent production is now expected to be between 405,000 and 450,000 by the end of 2021. The company’s consolidated copper production guidance remains unchanged. The company now expects its all-in sustaining costs to be around $1415 to $1495 per gold equivalent ounce.
President and CEO Renaud Adams said, “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.” Now that you know the latest from the company, will NGD enter your mining penny stock watchlist in mid-September?
Harmony Gold Mining Company Limited (NYSE: HMY)
Harmony Gold Mining Company Limited is a mining stock that has been going up in market value recently. This is a company that mines for and extracts gold at many owned properties. Harmony is involved in the exploration, extraction, and processing of gold, silver, copper, uranium, and more.
In August, Harmony released a trading statement and operating update for the year ending June 30th, 2021. There were a lot of positive results from Harmony that were announced in this update. For one, the company experienced a large increase in earnings and revenue. Harmony additionally had a higher reported translation gain on its U.S. dollar-denominated debt year over year.
This is a penny stock that often moves with the price of gold itself. When investing in mining stocks, it is important to look at the overall sector. For example, if gold experiences a shortage, it will likely impact the price of HMY stock. On September 14th, HMY stock is up nearly 5% in the market. Is HMY a contender for your list of mining penny stocks to watch this month?
Transocean Ltd. (NYSE: RIG)
Transocean Ltd. is a penny stock that just went up by 8.11% in the market. This is a company that provides offshore contract drilling services. Transocean contracts drilling rigs, equipment, and work crews. The company owns or has partial ownership in 37 mobile offshore drilling units, 27 deepwater, and 10 harsh environment floaters.
Back in early August, this oil drilling penny stock reported its second-quarter results for this year. The company’s total contract drilling revenues were at $656 million for the quarter. Transocean’s revenue efficiency was 98% compared to 97.4% the previous quarter. Now the company has announced that it secured a $252 million contract for a newbuild ultra-deepwater drillship, the Deepwater Atlas. This deal includes a mobilization fee of $30 million. This contract was awarded by BOE Exploration & Production LLC, and is due to the final investment from BOE and the Shenandoah working interest owners to sanction the previously announced Shenandoah project in the U.S. Gulf of Mexico.
President and CEO Jeremy Thigpen said, “We are extremely pleased to have secured the maiden contract for the Deepwater Atlas; the first of our two 8th generation ultra-deepwater drillships that will enter the market in 2022, both of which will be outfitted for 20,000 psi ultra-deepwater well operations. With so much new information to keep in mind, is RIG stock going to make your penny watchlist right now?
Mining Penny Stocks Under $5
There are many mining penny stocks one can watch that are under $5. That is why keeping up with the latest in the market is very important when investing in these cheap assets. Overall, it is important to remember how high-risk penny stocks are. Knowing how to invest in penny stocks and how to day trade penny stocks is important knowledge to have. So which mining penny stocks will make your watchlist this month?
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