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Highlights
- Investors often prefer penny stocks as they come cheap and can be bought in bulk at a comparatively low price.
- Another reason behind their popularity is that some penny stocks can have significant upside in terms of return potential if things turn out right.
- An energy stock listed below soared by roughly 462 per cent in the last one year.
Investors often prefer penny stocks as they come cheap and can be bought in bulk at a comparatively low price.
Another reason behind their popularity is that some penny stocks can have significant upside in terms of return potential if things turn out right.
So, let us explore three TSX penny stocks that you can buy in February 2022.
1. Questerre Energy Corporation (TSX:QEC)
The Calgary, Alberta-based oil and gas firm was seen improving its revenue and adjusted funds flow significantly in 2021, mainly due to high commodity prices.
The energy enterprise also saw its petroleum and natural gas sales amount to C$ 7.4 million in Q3 FY2021, which was up from C$ 5.4 million in the same period a year ago.
Questerre Energy stock climbed by about eight per cent to close at a value of C$ 0.335 apiece on Monday, January 31.
The oil and gas scrip returned over 116 per cent in three months.
Also read: 2 TSX real estate stocks to hold for the long haul
2. Numinus Wellness Inc (TSX: NUMI)
The psychedelics company recorded a top line of C$ 0.8 million in the Q1 FY2022, which was a surge of 244.5 per cent from a year ago.
On January 27, Numinus Bioscience, its research facility, received a license from Health Canada to produce and supply psilocybin.
Numinus stock galloped by over eight per cent and closed at C$ 0.66 apiece on Monday.
The psychedelic stock gained by roughly 25 per cent in the past one month.
3. Petrus Resources Ltd (TSX:PRQ)
Petrus Resources produced about 5,937 barrels of oil equivalent (boe) per day during Q3 FY2021.
The Calgary-headquartered energy company saw its scrip close at a value of C$ 1.46 apiece on Monday.
Petrus shares soared by roughly 462 per cent in the last one year.
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Bottomline
While they have some perks, penny stocks can be a risky investment as these generally belong to firms with notably small market cap and limited operations. Hence, if not carefully researched, it can lead to making uninformed investment decisions, which in turn can result in losses.
At the same time, some penny stocks often belong to companies that are likely to grow in demand and operations in the future. This projection, however, is usually subject to market dynamics and other important factors.
Also read: 3 top dividend stocks to buy in February
