- Pieridae Energy stock swelled by nearly 300 per cent year-to-date
- Razor Energy stock zoomed by roughly 239 per cent in 2022
- The CVW stock galloped by over 458 per cent in nine months
Investors with high-risk capabilities can focus on penny stocks like Pieridae Energy (TSX: PAE), Razor Energy (TSXV: RZE), and CVW CleanTech (TSXV: CVW) etc. to earn quick gains in the near term or future.
Penny stocks involve great risk as these are highly volatile to market conditions. In a favourable market environment, such stocks could fetch significant returns. On the contrary, one can lose entire invested money in adverse market dynamics. Hence, it becomes necessary to investigate penny stocks before investing cautiously.
This article will talk about some Canadian penny stocks shortlisted by Kalkine Media® that have returned over 150 per cent this year. Let us briefly discuss them.
1. Pieridae Energy Limited (TSX: PEA)
Pieridae Energy is a Calgary-headquartered oil player with integrated energy-related operations. Pieridae holds a market capitalization of C$ 202.65 million now. The Canadian oil firm improved its profitability as it posted a net income of C$ 22.98 million in the second quarter of 2022, significantly up from C$ 10.05 million in the same quarter last year.
In the latest cash flow statement, Pieridae reported C$ 34.92 million as cash provided by operating activities in Q2 2022, notably higher than C$ 12.09 million in the second quarter a year ago. The penny company increased its operating netback to C$ 16.9 per barrel of oil equivalent (boe) in the latest quarter compared to C$ 4.13/boe in Q2 2021.
Pieridae Energy stock swelled by nearly 300 per cent year-to-date (YTD). According to Refinitiv information, the PEA stock had a Relative Strength Index (RSI) value of 56.58 (representing a moderate trend) as of writing on Friday, August 19.
2. Razor Energy Corp (TSXV: RZE)
Razor Energy saw its oil production jump by 48 per cent year-over-year (YoY) to 4,457 boe/d in the first quarter of fiscal 2022. Razor achieved a positive operating netback of C$ 26 per boe in the latest quarter, considerably higher than a loss of C$ 0.66 per boe posted in Q1 2021.
Further, the junior oil production company also narrowed its net debt by C$ 2.1 million to C$ 96.9 million in the first quarter this year compared to the previous year. Razor also mentioned that further net debt reduction is projected over the remaining quarters of fiscal 2022.
Razor Energy stock zoomed by roughly 239 per cent in 2022. This penny stock jumped by almost 365 per cent in 52 weeks. As per data gathered from Refinitiv on August 19, the RZE stock held an RSI value of 53.21, which points to a medium trend in the stock market.
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3. CVW CleanTech Inc (TSXV: CVW)
CVW CleanTech offers sustainable solutions to the mining sector to reduce the environmental impacts of the oil sand industry. In March this year, the junior clean technology company received a non-repayable grant funding of C$ 5 million from the Clean Resource Innovation Network (CRIN).
CVW CleanTech also said that its capital position and liquidity substantially improved from the fourth quarter of last year as it posted $4 million in cash on hand at the end of the first quarter of 2022. However, the clean solution company incurred a net loss of C$ 0.83 million in the latest quarter.
CVW CleanTech stock gained about 248 per cent this year. In nine months, the CVW stock galloped by over 458 per cent. Refinitiv findings indicate the SVW scrip is seeing a moderate momentum with an RSI value of 56.39 on August 19.
4. Southern Energy Corp (TSXV: SOU)
Southern Energy posted adjusted funds flow from operations (AFFO) of US$ 2.23 million in Q1 2022, marking a significant YoY increase of 121 per cent.
Southern also reported petroleum and natural gas sales of US$ 5.92 million in the first quarter this year, up by 54 per cent from the same quarter a year ago. However, the C$ 122 million market cap company expanded its net loss to US$ 1.85 million in Q1 2022 compared to C$ 0.63 million in Q1 2021. On the balance sheet, Southern Energy posted US$ 48.53 million worth of total assets at the end of the latest quarter relative to US$ 29.33 million a year ago.
Southern Energy stock expanded by nearly 197 per cent YTD. On August 19, the SOU stock recorded an RSI value of 56.3 as per Refinitiv.
5. Kolibri Global Energy Inc (TSX: KEI)
Kolibri Global saw its average production increase by 94 per cent to US$ 1928 boe/d in Q2 2022. Kolibri reported that its revenue, net of royalties, amounted to US$ 12.4 million in the latest quarter, relatively higher than US$ 3.5 million in the second quarter of 2021. Further, in the latest income statement, the TSX-listed oil company reported a net profit of US$ 7 million in Q2 2022, up from a loss of US$ 1.41 million in the previous year's second quarter.
In the latest balance sheet, Kolibri Global posted property, plant and equipment (under non-current assets) of US$ 158.94 million on June 30 this year compared to US$ 147.11 million a year ago.
Kolibri Global stock jumped by over 193 per cent so far in 2022. According to Refinitiv information, the KEI stock was gaining momentum as its RSI value reached 62.02 on August 19, marginally low from the oversold mark of 70.
Investors searching for penny stocks to capitalize on gains from market fluctuations can consider penny stocks. But considering low market capitalization and high volatility, one needs to analyze market dynamics and company-specific information to avoid losing money.
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.