In this episode I review the top 5 penny stocks in the market today.
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Hi guys and welcome to another video. Now, if you are looking for the best penny stocks to buy now you will want to look at the 5 penny stocks I have got for you today.
But first, do know that penny stocks are often dangerous stocks to buy for individual investors. Generally described as stocks with a price under $5 the group usually consists of quite a few fallen angels and growth stocks that haven’t reached and may never reach their potential but there are still good penny stocks to buy.
For instance, during the financial crisis several stocks hit penny stock status and then rebounded tremendously. Pier 1 Imports for example went from 13 cents to over $20 before a long decline the past few years. Another company Dollar Thrifty Automotive bottomed at 60 cents and sold itself in 2013 to Hertz for $87.50 a share.
You see, there is still money to be made with penny stocks, so if you are on the hunt for the best penny stocks to buy now you will want to look at the penny stocks I have got for you in this video.
But before we get started, if you are new to my channel please subscribe and hit that bell notification so you will know when I release more stock trading tips and make sure you stay to the end so you don’t miss out on some of these promising penny stocks.
Now, penny stocks are more difficult to find in a market near all-time highs but they’re still out there. So here are my five penny stocks that could provide solid returns for investors going forward.
The first one up is First Majestic Silver, First Majestic Silver engages in the production, development, exploration and acquisition of mineral properties. It owns and operates producing mines in México.
I've been a fan of First Majestic Silver for a long time. For me, the year 2020 wasn't all bad because I saw my investments in First Majestic nearly triple between March and August.
Now that many silver miners have returned a portion of those gains however, is it time to exit First Majestic stock? Absolutely not in my opinion. I expect 2021 to be an even better year for shareholders with the company reporting increasingly promising results with each quarter and stock market volatility spurring the flight to safety stocks like the precious metals.
The second penny stock I like is Image Sensing Systems. Image Sensing Systems engages in the development and marketing of video and radar image processing products used in traffic applications such as intersection control, highway, bridge and tunnel traffic management, and traffic data collection.
This stock has done terrifically well roaring up approximately 27% over the past few weeks and that climb appears to have mainly taken place on the back of some strong third quarter results released in mid-November while relative trading volume has soared.
However, with the relative strength index clocking in at 71.19, Image Sensing Systems stock may be overbought at the moment. We could accordingly see the stock take a breather over the next few weeks as investor excitement settles down around this one.
Still, over the longer term – say the next six to eighteen months – I firmly believe that Image Sensing Systems shares will hold above $5 yet again.
New Gold is the third penny stock I have an eye on. New Gold is engaged in the operation, development and exploration of mineral properties. Its portfolio includes Rainy RIver, New Afton, and Cerro San Pedro. The company was founded in 1980 and is headquartered in Toronto, Canada.
In contrast to Image Sensing Systems, New Gold did pretty poorly over the course of November, with a 20% drop in its share price with a low of $1.75.
I don't expect this situation to continue much longer however. My bullish view on the junior and intermediate gold miners extends to New Gold, and as the U S dollar loses value the stock should climb much higher in 2021 in my opinion. I do note with some concern the company's dangerously high debt equity ratios so make no mistake, the potential upside is strong here but the risk is too.
Penny stock number four I want to mention is RF Industries. RF Industries engages in the manufacturing and marketing of interconnect products and systems. It designs, manufactures, markets and distributes a broad range of connector and cable products, including coaxial connectors and cable assemblies that are used in telecommunications and information technology.
R F Industries has received quite a lot of attention from the financial press over the past few months. The attention is well deserved in my opinion, because I believe this radio frequency device manufacturer should benefit hugely from the inevitable 5G revolution. Its products are integral to the wireless data transmission process and its fundamentals are strong.
Nonetheless, somehow the stock is still flying under the radar for many investors, with RF Industries shares down around 17 percent over the past half year.
This may be because its third quarter revenue for 20 20 was hit hard by COVID-19, falling around 40% but to write off R F Industries for that reason is short sighted in my view.
The epidemic has certainly slowed the roll-out of 5G across the globe – but its takeover is expected to be completed in most places by the end of 2021. In conclusion, RF Industries might require a little patience from its shareholders but I think the wait will be worth it.
And I wouldn't be surprised to see the stock skyrocketing at a time when most other equities are suffering.
So the last penny stock on today’s list is Turkcell. Turkcell is a converged telecommunication and technology services provider founded and headquartered in Turkey. It serves its customers with voice, data, TV and value-added consumer and enterprise services on mobile and fixed networks.
Now, telecommunications demand remains strong and it will likely become even stronger in my view no matter what turns the global economy takes. Reflecting this strength, Turkcell has an excellent five-year revenue growth average of 35 point 5 percent.
When I first saw it, Turkcell was at $4.82 considered a penny stock despite outshining many of its more expensive peers. Its P/E ratio of 10.55 and forward P/E ratio of 7.81 are much stronger than the industry median suggesting excellent value in the stock.
Meanwhile, quarterly earnings per share were up 83 percent in the past quarter and earnings per share over the next 5 years are expected to climb by an average of 33%.
No wonder prices rose to $5.35 in the middle of November before sinking a bit since then to $4.99. This means Turkcell is no longer technically a penny stock … but it's close enough that I’ve decided to include it here anyway.
There are of course some issues to watch out for with Turkcell . Its debt levels are worryingly high and geopolitical tensions abound perhaps the company should think about trimming its dividend and working on shoring up its finances. But I note that the reward potential for Turkcell is also very strong.
For instance, the company's subsidiary Lifecell operates across 39 different countries throughout the Caribbean, Central America, and Pacific regions too – all areas where telecom demand is expected to grow substantially over the next decade with 320 million "potential customers" as the company calls them.
I'll be keeping a close eye on Turkcell over the next year and I expect to bring you good news about it not too long from now. In my opinion shares of First Majestic Silver, Image Sensing Systems, New Gold, R F industries and Turkcell represent a potential buying opportunity if you like stocks with a high risk reward ratio as an investor.
So these are the best penny stocks for this month, thanks for watching and make sure to watch the next stock trading videos that should show up right about now.