AUS
NZ
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CA
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IND
Highlights
- Russia’s ongoing attack on Ukraine has driven uncertainty in the global stock markets, due to which commodities like metals, oil and gas are noting noticeable impact.
- Amid this crisis, some investors are showing interest in exploring penny stocks that can yield significant return in the long run and for which they do not have to shell out a ton of money.
- A stock listed below soared by nearly 238 per cent so far in 2021
Russia’s ongoing attack on Ukraine has driven uncertainty in the global stock markets, due to which commodities like metals, oil and gas are noting noticeable impact.
Amid this crisis, some investors are showing interest in exploring penny stocks that can yield significant return in the long run and for which they do not have to shell out a ton of money.
Also read: Toronto-Dominion (TD) to buy First Horizon (FHN). Bank stocks to bag?
Let us discuss five Canadian penny stocks priced under C$ 5.
1. Journey Energy Inc (TSX:JOY)
Journey Energy, on February 23, said that its proved developed producing reserves rose 20 per cent and proved reserves surged 14 per cent in 2021.
The energy company saw its stock price gallop by about 1,040 per cent in the last one year. Journey stock also spiked by over eight per cent to close at C$ 3.99 apiece on Monday, February 28.
2. First Hydrogen Corp (TSXV:FHYD)
First Hydrogen is a Vancouver-headquartered hydrogen-powered utility vehicle maker.
Stocks of First Hydrogen ballooned by over 17 per cent to close at C$ 2.50 apiece on Monday. The green energy stock has jumped approximately 900 per cent year-over-year (YoY).
3. InPlay Oil Corp (TSX:IPO)
InPlay increased its third-quarter production by 61 per cent YoY to an average of 6,011 barrels of oil equivalent per day (boe/d).
InPlay stock climbed nearly 56 per cent year-to-date (YTD) and swelled by over 729 per cent in the past one year. The oil stock closed at C$ 3.40 apiece on Monday.
Also read: What is SWIFT system & why is it crucial in the Russia-Ukraine crisis?
4. Kiplin Metals Inc (TSXV:KIP)
On February 23, Kiplin announced it discovered two “high value” exploration targets at the Cuff Lake Road (CLR), a uranium project in northwest Saskatchewan.
Kiplin stock gained over 597 per cent in the last 12 months and closed at C$ 0.86 on Monday.
5. Titanium Corporation Inc (TSXV:TIC)
Titanium Corporation held a cash position of C$ 1 million as of September 30, 2021. The clean-tech innovator in the oil sand space saw its third-quarter net loss at C$ 0.1 million in 2021 compared to C$ 0.8 million a year ago.
Titanium stock soared by nearly 238 per cent so far in 2021. TIC stock closed at C$ 1.30 apiece on Monday, up by four per cent.
Bottomline
Penny stocks are known for their volatile nature. Hence, while investing in penny stocks, investors should carefully take investment decisions considering their risk tolerance and investment goals.
Please note, the above content constitutes a very preliminary observation based on the industry, and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.
