5 penny stocks to watch in June: PVL, SNRG, GOFF. CHKR & FDOC

The stock market has been through a rough ride this year. Pandemic, inflation, withdrawal of stimulus measures, rising interest rates and geopolitical strife have impacted the market. 

As strong headwinds hit the market, the sheen of the mega-cap technology stocks quickly faded away, barring energy that benefitted from robust demand and higher oil prices.  

With the market heavyweights now struggling to bounce back, can penny stocks be considered a good bet? Though they are deemed high risk, it is also true that large-cap stocks of today were once penny stocks. Here we discuss five penny stocks that returned over 100% gains in a year.

Permianville Royalty Trust (NYSE: PVL) 

Closing price on May 18: US$3.67

Permianville is a statutory trust. It holds net profit interests with a right to receive up to 80% of net profit from selling oil and natural gas at selected properties.

For the quarter ended March 31, 2022, its income from net profit interest was US$3.22 million compared to zero revenue in the same quarter of 2021. The distributable income came in at US$2.93 million compared to zero income in the same period a year ago. 

It has a market capitalization of US$121.11 million. The company has a free float of 22.38 million and outstanding shares of 33.00 million. The stock has a P/E ratio of 38.84 and a dividend yield of 7.17%. The stock traded between US$1.56 and US$3.91 in the last 52 weeks. 

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Susglobal Energy Corp (OTC: SNRG)

Closing price on May 18: US$0.71

Ontario, Canada-based Susglobal Energy Corp operates in the renewable energy segment. It develops, acquires, and monetizes proprietary technologies in regenerative and waste-to-energy product applications. 

It provides a range of services, including dry digestion, biogas production, wastewater treatment, in-vessel composting, biosolids heat treatment, composting etc., which can convert organic residuals into fuel and electricity.

For the fiscal year ended December 31, 2021, its revenue was US$0.754 million compared to US$1.60 million in fiscal 2020. The net loss for FY2021 was US$4.86 million compared to US$2.01 million in FY2020.

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The company reported cash and cash equivalents of US$36.06 thousand as of December 31, 2021, compared to US$6.46 thousand as of December 31, 2020.  

It has a market capitalization of US$71.89 million. The company has a free float of 82.61 million and outstanding shares of 101.25 million.

The stock price moved in the range of US$0.15 to US$0.87 in one year. 

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Chesapeake Granite Wash Trust Units (OTC: CHKR)

Closing price on May 18: US$1.38

Houston, Texas-based Chesapeake Granite Wash Trust is a statutory trust formed to own royalty interests for the benefit of Trust unitholders. The Royalty Interests are derived from the Chesapeake Energy Corporation's interests in specified oil and natural gas properties.

For the quarter ended March 31, 2022, it reported revenue of US$3.69 million compared to US$0.95 million in the same quarter a year ago. The distributable income available to unitholders was US$3.12 million compared to US$0.294 million in the March quarter of 2021. 

Listed in 2011, BRGC’s current market capitalization is US$64.52 million. The stock price moved in the range of US$0.34 to US$1.47 in the last 52 weeks. The company has a free float of 23.00 million and outstanding shares of 46.75 million.

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Goff Corp (OTC: GOFF)

Closing price on May 18: US$0.441

Las Vegas, New-York based Goff Corp is an exploration-stage mineral mining company. Its primary project is the La Frontera Gold Project in Caldas. The company is focused on identifying targets for acquisitions. It has a subsidiary named Golden Glory Resources, Inc., engaged in gold and silver production. 

For the three months ended March 31, 2022, the company reported zero revenue, and the net loss came in at US$5.2 thousand. 

GOFF was listed in 2012. It has a market capitalization of US$100.66 million. The company has a free float of 228.25 and outstanding shares of 228.25 million.

The stock price moved in the range of US$0.03 to US$0.76 in one year. 

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 Fuel Doctor Holdings Inc (OTC: FDOC)

Closing price on May 18: US$0.39

Tel Aviv, Israel-based Fuel Doctor is a holding company. It is currently evaluating opportunities for a merger. 

For the three months ended March 31, 2022, it reported zero revenue, and the net loss was US$11.29 thousand compared to US$3.35 thousand in the March quarter of the previous year. 

It has a market capitalization of US$100.13 million. The company has a free float of 148.01 million and outstanding shares of 256.74 million. Its IPO came in 2010.

The stock price moved in the range of US$0.03 to US$0.72 in the last 52 weeks. 

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Bottom line:

Penny stocks are considered risky investments because of the limited market experience and information about their finances. Hence, investors should carefully analyze the companies before they plunge into penny stocks.