Kalkine Media explores Canadian stocks under $1: DRT to MGA

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Kalkine Media explores Canadian stocks under $1: DRT to MGA

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 Kalkine Media explores Canadian stocks under $1: DRT to MGA
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Highlights

  • DIRTT Environmental improved its total revenue to US$ 44.7 million in Q2 2022, greater than US$ 41.1 million in Q2 2021
  • Perpetual Energy stock galloped by almost  168  per cent in one year
  • Doubleview Gold stock catapulted by over 120 per cent in three months

Canadian investors with high-risk abilities can consider under C$ 1 penny stocks like Perpetual Energy (TSX: PMT), Ceapro (TSXV: CZO), Mega Uranium (TSXV: MGA) etc., to generate short-term gains.

Though penny investments are highly volatile, small investors with little money to invest could explore such stocks to fetch significant returns over a shorter duration relative to larger counterparts. However, such investment decisions where stakes are high could also result in significant in case of an unfavourable market environment. Thus, investors should carefully explore penny stocks and study market dynamics to act timely.

Considering these points, let us talk about the following seven penny stocks under C$ 1 selected by Kalkine Media®.

1.     DIRTT Environmental Solutions Inc (TSX: DRT)

DIRTT Environmental is a C$ 78.28 million market capitalization firm that leverages its three-dimensional (3D) design, configuration and manufacturing software to offer customized interior construction solutions. DIRTT also has a distribution partner (DP) network to provide its prefabricated interior construction services.

DIRTT Environmental improved its total revenue to US$ 44.7 million in Q2 2022, greater than US$ 41.1 million in the same period of the prior year. This top-line growth came as its product revenue grew to US$ 43.09 million in the second quarter this year (from US$ 40.08 million in Q2 2021). Service revenue amounted to US$ 1.61 million in the latest quarter relative to US$ 1.01 million posted in Q2 2021.

DIRTT Environmental stock rose by over seven per cent from a 52-week low of C$ 0.84 clocked on August 24. As per Refinitiv data, the DRT stock noted a relative Strength Index (RSI) value of 35.39 on Tuesday, September 6, slightly high from the bearish mark of 30.                    

2.     Perpetual Energy Inc (TSX: PMT)

Perpetual Energy is an oil and gas firm with a market capitalization of C$ 61.65 million. Perpetual said that its average production reached 6,123 barrels of oil equivalent per day (boe/d) in Q2 2022, denoting a year-over-year (YoY) surge of 20 per cent. The energy explorer posted oil and natural gas revenue of C$ 33.29 million in the latest quarter, reflecting a 152 per cent increase from last year's last quarter. 

Despite this, Perpetual Energy saw its net profit at C$ 4.47 million in Q2 2022, down by 83 per cent from Q2 2021. However, the oil producer reported a 305 per cent jump to C$ 11.57 million in cash flow from operating activities in Q2 2022 compared to Q2 2021. On the stock performance front, Perpetual Energy stock galloped by almost  168  per cent in one year. As per Refinitiv information, the PMT stock had an RSI value of 39.02 on September 6.

3.     Doubleview Gold Corp (TSXV: DBG)

Doubleview is a precious junior metal and base metal miner with market size of C$ 91.97 million. Doubleview Gold is named among the rising stars on the TSX Venture Exchange (TSXV). Besides this, the gold resource mining company is ranked among the top 50 metal stocks on the Toronto Stock Exchange (TSX) and the TSXV.

Doubleview Gold stock catapulted by over 120 per cent in three months. The DBG stock saw an RSI value of 77.08 on September 6 (as per Refinitiv), which reflects a bullish momentum.

Kalkine explores 7 Canadian stocks under $ 1: From DRT to MGA

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4.     Cathedral Energy Services Inc (TSX: CET)

Cathedral Energy Services have a market capitalization of C$ 131.1 million. This energy company offers directional drilling services to the oil and gas players across the United States and Canada. Cathedral Energy said that its revenues amounted to C$ 27.65 million in the second quarter of 2022, significantly high from C$ 7.32 million in the same period of 2021. The drilling service provider increased its cash flow from operating activities to C$ 4.51 million in the latest quarter relative to a negative balance of C$ 1.89 million in the same quarter a year ago.

Cathedral Energy stock shot up by roughly 61 per cent year-to-date (YTD). According to information collected from Refinitiv, the CET stock saw an RSI value of 38.02 on September 7.

5.     Ceapro Inc (TSXV: CZO)

Ceapro is a C$ 61.79 million (market capitalization) biotechnology company focused on developing and commercializing active ingredient product technologies and applications derived from plant extracts. The junior health and wellness products firm said that its total sales jumped by 25 per cent YoY to C$ 5.5 million in Q2 2022, supported by a 23 per cent increase in avenanthramides sales and a 75 per growth in beta-glucan sales. Ceapro improves its cash position as its cash, and cash equivalents (CCE) were C$ 11.36 million on June 30, 2022, relative to C$ 7.78 million posted on December 31, 2021.

Ceapro stock climbed roughly 98 per cent in six months. On September 6, the CZO stock had an RSI value of 64.73, slightly down from the bullish mark of 70, thereby representing an increased momentum in the market.

6.     Mega Uranium Ltd (TSX: MGA)

Uranium is said to be a clean alternative to carbon-emitting fuels like oil and gas. With increased focus on nuclear power, uranium stocks like Mega Uranium could gain momentum in the future. Mega Uranium possesses a market capitalization of C$ 94.76 million. Besides exploring uranium properties, Mega has a portfolio of equity investments in other uranium players. In August, Mega Uranium announced buying equity securities of U308 Corp, a uranium company headquartered in Toronto.

Mega Uranium stock spiked by almost 36 per cent quarter-to-date (QTD). This uranium stock had an RSI value of 59.99 on September 6 (sourced from Refinitiv), which denotes a moderate market environment.

Bottom line

Canadian investors with limited money and looking for short-term gains can explore penny stocks discussed here as these are prices under C$ 1. Most importantly, these stocks belong to different sectors (industrial, energy, healthcare and metals), thereby widening exposure.

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.

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