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Most Canadian penny stocks have performed exceptionally well throughout the first half of 2021. Gold and base metal mining firms have been bolstering their operations to reach the pre-COVID level. Meanwhile, software service providers have emerged during the pandemic-caused lockdowns and helped us work from home smoothly.
Here are 10 Toronto Stock Exchange (TSX) and TSX Venture (TSXV)-listed penny stocks to explore in August.
1. UEX Corporation (TSX:UEX)
UEX Corporation engages in the exploration and acquisition of Uranium and cobalt sites across Canada. The uranium stock is trading at C$ 0.34 apiece, with a market cap of C$ 155 million.
The stock has soared over 106 per cent in the past one year. It is up nearly 31 per cent year-to-date (YTD), surpassing the S&P/TSX Coal and Consumable Fuels Sub-Industry, which has traded flat relatively.
UEX is set to acquire a 50 per cent stake in JCU (Canada) Exploration Company for C$ 20.5 million. The company expects to conclude this transaction in the first week of August. Its share price may witness an upside surge on the back of this development.
2. Obsidian Energy Ltd. (TSX:OBE)
The energy firm produces oil and gas through its properties in Alberta. Its stock is available at C$ 3.74 apiece, and its market cap is C$ 280 million.
The oil stock has rocketed almost 330 per cent YTD and outperformed the benchmark index, which is up 269 per cent relatively. It has grown 503 per cent in one year.
The stock was marching 105 per cent ahead of its 200-day simple moving average (SMA), indicating a massive bull run.
The company posted a robust fund flow of C$ 42.3 million for the second quarter of 2021, up against C$ 36.3 million for the first quarter of 2021.
3. Emerita Resources Corp. (TSXV:EMO)
This Canadian mineral exploration firm. Explores and builds properties across Spain and Brazil to extract zinc, lithium, and precious metal. Its share price is at C$ 1.90 apiece, with a market cap of C$ 232 million.
The mineral stock has swelled by 764 per cent this year and recorded its all-time high of C$ 2 apiece on July 5, 2021. Its one-year return stands at 827 per cent.
Its current price trajectory is up versus its moving average multiple, showing a consolidated uptrend.
The company completed a bought deal of its units worth C$ 20 million in mid-July and had a healthy average trading volume of 1.74 million shares for the last one month.
4. Azimut Exploration Inc. (TSXV:AZM)
The mining firm holds base metals and gold exploration sites in the province of Quebec. Its current share price is at C$ 2.18 apiece, and its market capitalization is C$ 151 million.
The yellow metal stock has recorded a 105 per cent surge YTD and beaten the benchmark index, which has risen 77 per cent relatively. Its one-year growth stands at 25 per cent. The share price has been soaring well above its 60-day SMA and 200-day SMA, representing a bullish trend.
The company refinanced its working capital through a private placement of its units worth nearly C$ 29 million in July.
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5. Foran Mining Corporation (TSXV:FOM)
Foran Mining Corp explores zinc and copper through its Flin Flon Greenstone Belt-located projects. Its share price is C$ 2.20 apiece. Its market cap has zoomed over C$ 397 million, led by a 1,275 per cent rise in one year.
The copper stock has risen more than 279 per cent YTD, guided by the record copper prices. The stock has delivered 54 per cent returns in the last three months.
The company announced a private placement of its units of C$ 100 million through Fairfax Financial Holdings (TSX:FFH) on July 8.
6. ZEN Graphene Solutions Ltd. (TSXV:ZEN)
The Ontario-based company is exploring and mining gold and base metals. It has a share price of C$ 3.03 apiece and a market cap of C$ 266 million.
The base metal stock has surged by over 413 per cent in the past one year. However, it has gone through a correction and dropped 12 per cent month-to-date (MTD).
The stock is up over 20 per cent compared with its 200-day SMA, holding a long-term positive price movement.
7.Labrador Gold Corp. (TSXV:LAB)
The yellow metal explorer has its operations across North and South America. It has a stock price of C$ 1.31 apiece. Its market cap is C$ 198 million.
The gold stock has yielded over 227 per cent YTD. Its one-year returns stand at 126 per cent. At its current share price, it has increased by 86 per cent compared to its 200-day SMA. Thus, it has a robust long-term price rally.
On June 17, the company reported that it doubled its drill rigs to bolster its operations.
8.KWESST Micro Systems Inc. (TSXV:KWE)
The company builds counter-drone systems and other military-related tactical devices. The stock is trading at C$ 2.15 apiece. Its market cap is C$ 102 million.
The tech stock has gained over 254 per cent in one year. It has registered a rise of 63 per cent YTD. It recorded its lifetime high of C$ 2.5 apiece on February 04, 2021. It is currently leading against its moving average multiple by double-digit gains.
The company is likely to launch its exclusive non-lethal Low Energy Cartridge system commercially at Shot Show in Las Vegas.
9. mCloud Technologies Corp. (TSXV:MCLD)
The software firm offers its artificial intelligence (AI)-based services to energy and food industries through its AssetCare platform. Its share price is C$ 2.55 apiece. It has a current market cap of C$ 88 million.
The software stock has increased by 38 per cent this year. It is up by double-digit against its moving average multiple.
On July 20, the AI-powered solutions provider announced that it expects to optimize building air quality along with 25 per cent of energy efficiency in New York City. On the back of this development, the stock is up 48 per cent MTD.
10.The Real Brokerage Inc. (TSXV:REAX)
The technology-driven property brokerage company provides agents a mobile-powered platform to manage its operations. The real estate stock is at C$ 2.22 apiece, with a market cap of C$ 356 million.
The stock is up 455 per cent in one year. It has gained 88 per cent YTD. However, it is down by 19 per cent MTD, led by the overall Real Estate sector’s correction.
The real estate brokerage firm’s common shares also started trading on the NASDAQ stock market on July 23. The listing could boost its share price in August.
