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Highlights:
- Inflation has reached record high levels, pushing up the cost of living for millions of Britons.
- UK stock markets have also performed poorly so far this year due to the economic slowdown and fears of recession.
UK inflation reached a record high of 9.1% in May. According to the Bank of England (BoE), it is expected to hit 11% later this year. The central bank is walking a tight rope in its attempt to bring down the high inflation through tougher policy actions, as they also put economic growth at the risk of a complete halt.
Despite the fears of recession, there are investors looking for opportunities to generate huge returns from penny stocks in the short term. These stocks come with greater risk due to high volatility but can also lead to big profits.
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It is important for investors to thoroughly analyse a penny stock before investing in it. Here are five penny stocks that you may buy in July despite the inflationary pressures.
Hurricane Energy Plc (LON: HUR)
The Godalming-based company has a market cap of £123.50 million as of 15 July 2022. The company's stock has offered its investors a return of 62.79% on a YTD basis, while its one-year return stood at 91.29% as of Friday. Hurricane Energy Plc's shares traded at GBX 6.20 at 10:01 AM (GMT+1) on Friday.
Premier African Minerals Limited (LON: PREM)
The multi-commodity mining and natural resources development company's market cap stands at £66.13 million as of 15 July. Over the last one year, the AIM-listed firm has provided its shareholders with a return of 60.65%, while its year-to-date return stands at 56.42%. Premier African Mineral's share price stood at GBX 0.30 at 10:10 AM (GMT+1) on Friday.
Totally Plc (LON:TLY)
Totally Plc is the leading healthcare services provider in the UK and Ireland, and its market cap stands at £79.11 million as of 15 July 2022. The stock has provided the investors with a return of 20.76% on a YTD basis, while its one-year return stood at 19.98% as of Friday. Totally Plc's share price was at GBX 42.50 at 10:15 AM (GMT+1) on Friday.
Harvest Minerals Ltd (LON: HMI)
The Australia-based natural fertiliser producer has a market cap of £22.23 million as of 15 July 2022. The company's stock price has increased significantly over the past 12 months, with its yearly return at a whopping 267.19% and the YTD return hitting 176.47%. Harvest Minerals's shares were trading at GBX 11.50, down by 2.13% at 10:25 AM (GMT+1) on Friday.
Angus Energy Plc (LON:ANGS)
Angus Energy has a market cap of £32.67 million as of 15 July 2022. The stock has provided decent returns to investors, with the YTD return touching 89.29% and the one-year return standing at 47.22% as of Friday. Angus Plc's share price stood at GBX 1.35 at 10:31 AM (GMT+1) on Friday.
Note: The above content constitutes a very preliminary observation or view based on market trends 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.
