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Headlines:
- Exro Technologies and Arizona Metals: Promising Penny Stocks for Potential Growth
- Top Penny Stocks to Watch: Exro Technologies and Arizona Metals
- High-Potential Canadian Penny Stocks: Exro Technologies and Arizona Metals
These two penny stocks can be considered for consensus rating and could potentially offer solid share price appreciation in the next twelve months. In Canada, a penny stock is defined as a company whose shares are trading at less than C$5 per piece. Investing in penny stocks has its share of merits and demerits. An investor with a high risk-return appetite can consider penny stocks, as they have the capacity to generate enormous returns with their highly volatile nature.
Exro Technologies, Inc. (TSE:EXRO)
(TSE:EXRO) Alberta-based Exro Technologies develops patented power electronics, hardware, and software solutions aimed at reducing energy consumption in the transportation and energy sectors. Exro is expected to release its Q2FY24 results in mid-August, with a consensus EPS of a loss of C$0.05 and revenues projected at C$17.29 million, compared to a loss of C$0.05 per share on revenues of C$2.44 million in the prior year. On April 5, 2024, Exro completed the acquisition of California-based SEA Electric Inc. for C$332 million, which is anticipated to boost Exro’s revenues and technology offerings.
Arizona Metals Corp. (TSE:AMC)
(TSE:AMC) Ontario-based Arizona Metals Corp. is a mineral exploration company focused on gold, copper, silver, and zinc mining. Arizona Metals owns 100% of the Kay Mine Project and the Sugarloaf Peak Gold Project in Arizona. AMC is expected to report its Q2 and half-year Fiscal 2024 results at the end of August, with a consensus Q2 EPS of a loss of C$0.04, an improvement from Q2FY23’s loss of C$0.05 per share. Arizona Metals is in the process of spinning out the Sugarloaf Peak Gold Project and Kay Royalties to form two new companies, retaining a 19.9% interest in both, with the remaining shares to be distributed to existing shareholders on a pro-rata basis.