3 mining stocks to watch that are trading under $5
When it comes to mining penny stocks, there are a lot of great companies to watch. While it seems like many make a profit with penny stocks on the surface, there is a catch. Penny stocks are very inherently risky. For example, if a large blue-chip stock like Apple Inc. (NASDAQ: AAPL) goes up by $1, it does not represent a huge change. But if a penny stock goes up $1, this could mean huge gains for investors. This also applies to losses, which is the reason that penny stocks are so risky.
So how do you know which mining penny stocks you should add to your watchlist? The best way to find mining stocks to buy is by doing a bit of research. What is going on in the world is very important when investing. Generally, this can be things such as metal shortages and natural disasters. In recent times, the COVID-19 pandemic has had a huge impact on the market for mining penny stocks, opening a new level of volatility.
Doing a lot of company research can be very useful when investing in mining stocks as well. This includes looking at charts, recent company announcements, and financial results. These can all help to narrow down which company works the best for your watchlist. Sector news is very important too, as if there is a shortage of a metal or material it can have a huge impact on a company for example. No matter which mining penny stocks you invest in, there are a lot of great options in the market. So let’s take a look at three mining penny stocks that have potential in the market.
Top Mining Penny Stocks To Watch
Yamana Gold Inc. (NYSE: AUY)
Yamana Gold Inc. is a precious metals corporation that has been mentioned a lot on goldstocks.com in the past due to its frequent momentum in the market. The company currently produces gold and silver, and also owns development stage properties and exploration properties. All of these properties and projects are located in the Americas, including Brazil, Chile, and Argentina.
During August, Yamana Gold repurchased an additional 1,584,500 common shares under its share repurchase program. The company has now reached a cumulative total of 3,321,276 common shares at about CAD 18 million. Now Yamana Gold intends on being “selective and opportunistic” when it comes to repurchasing shares intending to enter the market when permitted and when its trading range of shares don’t show its underlying value.
Yamana Gold believes the market price of its common shares doesn’t represent its full value and growth prospects at the moment. Noting this new info, will you add AUY stock to your mining penny watchlist this month?
Denison Mines Corp. (NYSE: DNN)
Denison Mines Corp. is another mining penny stock that we have mentioned a lot on this site before. This is a mining corporation that explores for uranium at its various projects. Denison Mines Corp. owns a 95% interest in the Wheeler uranium project located in the Athabasca Basin region in northern Saskatchewan. This is a mining stock we have mentioned a lot on this site in the past due to its frequent upwards momentum in the market.
A few days ago, Dension received $20.45 million from UEX Corporation to settle a loan from JCU Exploration Company Limited. So now UEX has repaid the interest-free 90-day term loan provided to it by the company in connection with UEX’s purchase of JCU. Denison has agreed to release its security for the Term Loan, including the pledge of all of the shares of JCU owned by UEX.
CEO and President David Cates said, “Denison congratulates UEX on their recent financing and repayment of the Term Loan. We are looking forward to working with UEX on Denison’s flagship Wheeler River project and the various other projects that make up JCU’s unique and valuable portfolio of strategic Canadian uranium interests.” In the last month, DNN stock has significantly climbed in value. With this new information to note, will DNN enter your list of mining penny stocks to watch?
IAMGOLD Corporation (NYSE: IAG)
IAMGOLD Corporation is a mining penny stock that just had a large increase in volume. This is a company that explores for, develops, and operates gold mining properties. All of IAMGOLD’s properties are located in North and South America, as well as West Africa. Currently, this company has an interest in the Essakane mine, Westwood mine, the Diakha-Siribaya gold project, and many more. In addition to gold, some of its projects also search for silver and copper.
On the 21st of September, IAMGOLD reported positive assay results from its 2021 resource delineation drilling on the Gosselin zone discovery. Back in March, the company reported results from the remaining nine diamond drill holes as a part of the delineation program completed in the fourth quarter of last year. Now it is reporting results from 31 more diamond drill holes that total 11,735 meters.
Executive VP of Growth, Craig MacDougall said, “These additional drilling results continue to demonstrate the continuity and strength of this wide mineralized system. The Gosselin zone remains open to the northeast and southeast as well as at depth.” IAG stock’s volume is much higher than its average after the release of these results. As the last company on this list, will IAG stock make your watchlist in September?
Best Mining Penny Stocks To Buy?
Deciding which mining penny stocks to buy can often be a difficult decision to make. In such a volatile market, there is not always telling which way a mining penny stock may move. That is why staying up to date on the latest in the market can really help when you are investing. With this information in mind, which mining penny stocks will make your watchlist as we continue through September?
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