AUS
NZ
UK
CA
USA
IND
_10_04_2024_16_38_50_427275.jpg)
Penny stocks are primarily purchased because of their discounted price. While their volatility can be a risk, investors often opt for these stocks for their low costs. If you are in search of some of the hottest Canadian penny stocks, here is a list of four such stocks that might expand in 2021.
1. Therma Bright Inc (TSXV:THRM)
Therma Bright stock grew by five per cent in the last week. It ballooned by a whopping 1500 per cent in the past year and shot up by 86 per cent year-to-date (YTD).
The scrips closed at C$ 0.4 apiece on Tuesday, May 18. Its 52-week high stands at C$ 1.05 (January 19, 2021).
The Toronto-based company, which manufactures medical devices and instruments, is the developer of the Acuvid COVID-19 Rapid Antigen Saliva Test.
Maintaining a robust balance sheet in Q1 2021, Therma Bright's cash and cash equivalents stood at C$ 1.7 million.
2. Leaf Mobile Inc (TSX:LEAF)
A leading video game group, Leaf Mobile recently entered an agreement with gaming company Game Masons for a worldwide release of a mobile game on Android and iOS platforms.
Leaf Mobile stock grew by about 20 per cent in the past month and expanded by 102 per cent in the last six months. Its 52-week high of C$ 0.58 was achieved on February 11, 2021.
The gaming stock was priced at C$ 0.45 at market close on Tuesday.
Copyright © 2021 Kalkine Media
Leaf Mobile achieved a record revenue of C$ 25.3 million in the first quarter that ended on 31 March this year, representing a 95 per cent year-over-year (YoY) surge. Its adjusted EBITDA was C$ 3 million in the same period, as compared to a loss of C$ 1.4 million in Q1 2020.
3. Supreme Cannabis Company Inc (TSX:FIRE)
The pot company outperformed the S&P TSX Pharmaceuticals (Sub Industry) Index over the past year with a growth of 21 per cent. Supreme Cannabis holds a debt-to-equity ratio of 0.3 and its market cap stands at C$ 240.3 million, as per TMX.
On May 13, the company released its third-quarter fiscal 2021 results, recording a cash balance of C$ 65.5 million. Supreme Cannabis' consolidated revenue was C$ 13.6 million in the latest quarter, while its adjusted EBITDA was C$ 0.5 million.
In April, Supreme Cannabis entered an agreement to be acquired by fellow pot company Canopy Growth (TSX:WEED).
4. Nevada Copper Corp (TSX:NCU)
Nevada Copper Corp’s shares closed at C$ 0.29 apiece on Tuesday, up by a significant 383 per cent from its 52-week low of C$ 0.06 (November 3, 2020). The stock swelled by 195 per cent in the last six months and it registered a growth of 118.5 per cent in the past year.
In 2020, Nevada Copper's cash and cash equivalents climbed to US$ 21.8 million, up from US$ 1 million in 2019.
With copper prices rising to a 10-year high in April, Nevada Copper Corp, which has a fully-permitted copper project in North America, is likely to be able to grow its revenues and profits in the near future.
The above constitutes a preliminary view and any interest in stocks should be evaluated further from an investment point of view.
