The potential of cheap stocks is alluring. What if a company offered cheap stocks today, and becomes the next big trillion dollar company tomorrow?
That’s exciting.
So here are 3 cheap stocks that, currently, are going for quite a low price but may just yield bigger results in the future. (Who really knows?)
3 Cheap Stocks
Here are 3 cheap stocks you might want to look into.
Turquoise Hill Resources Ltd. (NYSE:TRQ)
Trading at only $1.95 USD, Turquoise Hill Resources Ltd. is worth keeping an eye on. TRQ is technically a penny stock, however, the company has $17.3 billion in assets and showcased very impressive fiscal 2017 results. Revenue generated for the year was $1.22 billion, leaving a net income of $235.3 million.
You might have to ‘play the waiting game‘ with these cheap stocks to see a significant return, but the potential is there.
Why? Well, this Canadian mineral exploration company is 51% owned by the same company that has a 66% stake in the Mongolian Oyu Tolgoi project—Rio Tinto (NYSE:RIO). The Mongolian Oyu Tolgoi project is the world’s third-largest copper asset, so its enormity could establish a long-term growth opportunity for TRQ.
Avino Silver & Gold Mines Ltd. (NYSE:ASM)
At 68 cents, Avino stocks are very cheap stocks. The issue with being this cheap is that price volatility could be significant and listing on a lesser exchange could be a real possibility.
Despite that grey area, Avino may be in the right industry at the right time. Precious metal stocks may be among the best-performing types of equities over the next few years. Silver is expected to outperform gold and Avino has two major silver mines in Mexico and a gold project in development in British Columbia.
>> Cannabis Penny Stocks: Namaste and Auxly Lead the Trading Pack
Zynga Inc. (NASDAQ:ZNGA)
Trading at $4.26, ZNGA’s cheap stock provides gaming services on mobile platforms and social networks.
Recent rumors about an acquisition mean this company could be set to explode if those rumors are true. If a bigger tech company steps in and takes over Zynga, then there’s no telling how big these stocks could climb.
But even aside from that, standing alone, Zynga has made a gross profit margin of 69.9% this year, and with $392 million in cash, Zynga is in a position to take advantage of further growth opportunities.
Cheaps stocks in the gaming and digital sphere are always worthy of consideration, especially at this price.
So, there you have 3 cheap stocks to consider. Keep your eyes on these over the next few weeks!
Featured Image: Depositphotos/© vetkit
