With October drawing to a close and the clocks going back on the weekend, the cold dark evenings are well upon us. So we thought we’d pick out a few penny stocks to keep your investment portfolio nice and toasty heading into the holiday season.
Penny stocks are those that have a share value of under $5 and can often be risky bets as there’s no guarantee or proven formula for success. However, if you’re an investor with an appetite for risk, then look no further.
Auryn Resources Inc
Auryn Resources Inc (TSX:AUG) (NYSE:AUG) is a Vancouver-based mining firm that literally just struck gold. This penny stock jumped 15% this week after announcing that its Curibaya project in southern Peru revealed high-grade mineralization of gold and silver. The results, which were pulled from a 1.5 kilometer by 3 kilometer area, included more than 20 samples with more than 200 grams of silver per ton and multiple results above 15,000 g/t silver and as much as 7.67 g/t gold.
Auryn Resources’ use of advanced machine learning software to improve its explorations is exciting and could go a long way to further gold strikes as well as reducing drilling costs substantially. AUG stock is currently trading at just $1.34, which looks like a bargain after the company’s CEO described the Peru find as the “cusp of the most historic gold and silver price rallies in our time.”
>> Universal mCloud Changes Its Name to mCloud Technologies
If small-cap gold stocks are to your taste, we recently picked out three, in particular, to add a shine to your portfolio.
Marathon Patent Group
Marathon Patent Group (NASDAQ:MARA) is a penny stock with lots of fingers in lots of different pies, including the potentially highly lucrative blockchain business. The Las Vegas-based company acquired four patents related to the transmission and exchange of cryptocurrencies between buyers and sellers last year and recently announced that it would move its blockchain assets from Canada to Nebraska. The move is expected to save $60,000 USD per month in overheads and allow the company to deploy an additional 7,200 mining rigs by the end of the year.
Once those rigs are fully operational, Marathon Patent Group will become one of the largest Bitcoin mining firms in North America. With many analysts predicting a Bitcoin rally in the very near future, Marathon’s share price of $1.49 looks like a penny stock pinch at the moment.
What do you think of these picks?
Featured Image: DepositPhotos © aremafoto
