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Summary
- An international energy company’s shares are up 76 per cent month-to-date (MTD).
- Scrips of a blockchain stock have soared 138 per cent this month.
- A constituent company of the first Psychedelic ETF (exchange traded fund) Index is up over 48 per cent MTD.
- Stocks of a penny gold stock have returned more than 94 per cent MTD.
With the recent trend of short selling and short squeezing, stock markets are volatile globally in the past two weeks. From penny to large-cap, many stocks are seeing massive fluctuations.
Unlike the crypto market that is shrouded in complexities and risks, at least penny stocks are tangible proof of existence and are regulated by stock exchanges.
Amid this global volatility, let us explore four Canadian penny stocks that have registered a whopping growth in recent times:
Gran Tierra Energy Inc. (TSX:GTE)
Current Stock Price: C$ 0.82
The global energy company acquires and manages companies operating in the oil and gas industry in Colombia. The stock has grown by 76 per cent month-to-date (MTD). It has a market cap of C$ 301 million.
The company expects to have a better free cash flow generation in 2021 and has already boosted production by nearly 24 per cent.
The company has predicted a 2021 budget capital of US$ 130 million to US$ 150 million. Its estimated production is in the range of 28,000 to 30,000 barrels of oil per day (bopd).
DMG Blockchain Solutions Inc (TSXV:DMGI)
Current Stock Price: C$ 1.57
The company engages in cryptocurrency mining through its blockchain-backed software. The digital stock is up 138 per cent MTD. It has a market cap of about C$ 170 million and a P/CF ratio of 96.10.
The integrated blockchain company owns assets such as a 27,000 sq. ft. data center and an 85-Megawatt power substation in British Columbia province.
DMG Blockchain issued 3.65 million common shares options to directors and staff on December 31, 2020, at an exercise amount of C$ 0.65 per stock, with a three-year life cycle. Since then, the stock has more than doubled.
Image Source: Kalkine Group @2020
Greenbrook TMS Inc. (TSX:GTMS)
Current Stock: C$ 3.82
The Toronto-based firm provides FDA-approved Transcranial Magnetic Stimulation (TMS) treatment for mental health problems. The healthcare stock has rallied over 48 per cent MTD. Its market cap stands at around C$258 million, with a P/B ratio of 17.364.
The company has been incorporated in the first Psychedelic ETF Index, which is operated by Horizons ETFs Management.
In its third quarter results reported on November 30, 2020, the company posted revenue of US$ 12.0 million in Q3 2020, a surge of 42 per cent from Q3 of fiscal 2019.
The company announced on December 31, 2020, that Oxford Finance will provide a credit of US$ 30 million in return of 256,535 stock purchase warrants.
Eloro Resources Ltd. (TSXV:ELO)
Current Market Price: C$ 4.47
A gold and base metal mining company has assets in Bolivia, Peru, and Quebec province. The stock has increased by 94 per cent MTD.
Eloro’s market cap is C$ 232.4 million. Its P/B ratio is 34.38.
The company owns 82 per cent stake in the La Victoria Gold/Silver Project, which is based in Peru. La Victoria includes eight mining franchises and eight mining claims covering nearly 89 square kilometers.
