HMI, PXEN, TAVI, PIP: Lens on penny stocks offering returns of over 100%

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Highlights

  • Penny stocks are typically traded under the price of £1 and are mainly targeted by risk-taking investors.
  • Usually, small companies with speculative valuations offer penny stocks, and thus they are riskier investments.

Amid the current market volatility, risk-taking investors are going for investments in low-cost shares, which may potentially become the growth superstars of tomorrow. These cheap stocks are known as penny stocks and they are typically traded under the price of £1, having a market capitalisation of below £100 million.

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Penny stocks generally offer higher returns as compared to their mid and large-sized counterparts, but these high returns come along with a higher risk component. Usually, small companies with speculative valuations offer penny stocks, and thus they are riskier investments.

The year 2022 hasn’t been good for the stock market and many large-cap stocks have also witnessed a considerable drop in their value. Despite the risk factor, investors can gain from penny stocks, but only by cautiously evaluating the details of the firms and seeing their growth prospects first.

Let’s look at 4 penny stocks that are offering annual returns of over 100%, which investors can keep an eye on in June.

RELATED READ: MNZS, FGP, TEK: Stocks you may consider as economic outlook worsens

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  1. Harvest Minerals Ltd (LON: HMI)

The shares of the Australia-based corporation engaged in mineral production, were up by 0.60% and were trading at GBX 16.40, at 3.15 PM (GMT+1) on 1 June 2022. The AIM-listed company has provided its shareholders with a return of 332.63% over the last one year as of 1 June 2022, while its year-to-date return stands at 273.63%. The company’s current market cap stands at £31.50 million. 

  1. Prospex Oil & Gas plc (LON: PXEN)

The shares of the oil & gas investment business, Prospex Oil & Gas plc, were down by 4.35% at 3.15 PM (GMT+1), on 1 June 2022, at GBX 4.40. The AIM-listed company has provided its shareholders with a return of 233.19% over the last one year as of 1 June 2022, while its year-to-date return stands at 35.48%. The company’s current market cap stands at £11.65 million.

RELATED READ: SHEL, BP., HBR: Should you invest in these stocks with rising oil prices? 

  1. Tavistock Investments plc (LON: TAVI)

The shares of the UK-based firm offering investment-related services were trading at GBX 6.85, up by 9.20%, at 3:15 PM (GMT+1) on 1 June 2022. The AIM-listed company has provided its shareholders with a return of 134.61% over the last one year as of 1 June 2022, while its year-to-date return stands at 53.33%. The company’s current market cap stands at £34.85 million.

  1. PipeHawk Plc (LON: PIP)

The shares of the firm generating business opportunities in distinct markets were trading at GBX 17.00 at 3.15 PM (GMT+1) on 1 June 2022. The AIM-listed company has provided its shareholders with a return of 125.91% over the last one year as of 1 June 2022, while its year-to-date return stands at -5.45%. The company’s current market cap stands at £6.17 million.


 

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