Investors love penny stocks, even though they can be hazardous at times. This is likely because when there are risks, rewards often follow close behind. Not always, but sometimes. You can see this illustrated in two of the penny stocks on the market today.
Today’s focus will be on mining penny stocks.
Penny Stocks Going into the Weekend in the Green
On Friday, two penny stocks made significant gains, both of which are trading on Canadian exchanges.
First, we have Far Resources, which is up on the CSE. Then there’s QMC Quantum Minerals Corp., which is trading in the green on the TSXV.
1. Far Resources (CSE:FAT)
Based in Burnaby, Canada, Far Resources is an exploration company. Right now, it focuses on exploring, acquiring, and developing mineral properties in Canada as well as the US.
After a mediocre month of July, in which the penny stock was consistently hitting new 52-week lows, the Far Resources stock seems to be getting back on its feet—on no news, might I add.
Far Resources Stock Price
According to Yahoo Finance, as of 12:06 p.m. EDT, Far Resources is trading at $0.155, which puts the stock up 10.71%.
2. QMC Quantum Minerals Corp. (TSXV:QMC)
Headquartered in Vancouver, Canada, QMC is a junior mineral exploration company, one that looks for lithium, silver, copper, as well as gold and zinc.
Over the past month or so, the company has made numerous announcements in regards to the Irgon Lithium Mine project. For instance, on August 8th, it was announced that the company expects more untapped tonnage at the Irgon project.
While there was no news announced today, the QMC stock still managed to make its way into the green, thus putting it on the mining penny stocks of the day list.
QMC Quantum Minerals Stock Price
According to Yahoo Finance, as of 12:48 p.m. EDT, QMC was trading at $0.31, which puts the penny stock up 5.08%. The stock opened at $0.30 and previously closed at $0.29.
The Takeaway
Were you surprised to see these two stocks in the green today? Personally, QMC didn’t surprise me, but I was surprised to see Far Resources up 10%, just because the stock struggled last month. But that’s penny stocks for you!
Check back in next week for more penny stock news.
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