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Highlights
- Some penny-cap companies have seen notable returns in the past year and are likely to grow in the future, considering their growth operations
- A mining stock mentioned here skyrocketed by about 336 per cent in the past year.
- A graphite stock listed below marked a YTD return of more than 218 per cent.
Investors and traders with money constraints often turn to penny stocks as these are cheaper compared to small-cap, mid-cap and bluechip stocks.
Penny stocks are generally considered riskier due to their small-sized market capitalization and relatively limited business reach.
However, some penny-cap companies have seen notable returns in the past year and are likely to grow in the future, considering their growth operations.
Also read: 2 Canadian penny stocks under $1 to buy in November
So, let us closely look at two penny stocks listed on the Toronto Stock Exchange Venture (TSXV) that grew 200 to 400 per cent in the past one year.
1. Cypress Development Corp (TSXV:CYP)
Canadian mineral exploration and development company Cypress Development Corp saw its stock close at C$ 2.09 apiece, up by 8.854 per cent, on Monday, November 1.
At market open on Tuesday, November 2, its stock was priced at C$ 2.18 apiece, up by 4.306 per cent.
Image source: © 2021 Kalkine Media Inc
CYP stock jumped up by more than 44 per cent in the last month and increased by more than 59 per cent in the previous three months. Its six-month return stood at more than 98 per cent.
The mining scrip spiked by about 336 per cent in the last 12 months and swelled by almost 148 per cent on a year-to-date (YTD) basis.
2. Graphite One Inc (TSXV:GPH)
Stocks of Graphite One Inc, a Canadian graphite producer, opened at C$ 1.56 per share on November 2.
At this level, GPH stock noted a growth of more than eight per cent for the past month and that of roughly 49 per cent for the last three months. It also gained almost seven per cent in six months.
The graphite-focused company witnessed its stock price grow by nearly 209 per cent in the past 12 months. In addition, it marked a YTD surge of about 218 per cent.
Also read: Top 3 Canadian dividend penny stocks to buy before 40
Bottom line
The two Canadian penny stocks mentioned above could be explored by investors as they fetched their shareholders notable returns over the past one year.
However, investors should research a company's fundamentals and financials to analyze its strength before betting their money on it.
