Penny stocks are all over the place today. While there are a few cannabis penny stocks climbing, one gold penny stock is struggling to stay afloat, and the market can’t seem to take its eyes off of it- but not in a positive way. Today, we’re talking about the Dynacor Gold Mines stock, which is down nearly 3%, twenty-four hours after posting a solid Q2 earnings report.
Gold Penny Stocks: Dynacor Gold Mines
Based in Montreal, Canada, Dynacor Gold Mines (TSXV:DNG) released its Q2 financial statements to the public yesterday, August 14. For the most part, the results were positive. During the period the company saw not only an operational increase in gold production, but sales also increased by nearly 30%.
And yet, the stock is trading in the red zone. What gives? It’s hard to say; perhaps it’s because gold penny stocks are volatile little buggers, or maybe there’s an unknown alternative explanation. Either way, looking at the Dynacor Gold Mines earnings report, all I see are positives.
Important Figures: Three-Month Periods Ending June 30
– Sales of 27,955 (in 2017, sales were 21,754)
– Gross operating margin: 3,515 (in 2017, gross operating margin was 2,698)
– Operating income: 2,182 (compared to 1,055 in 2017)
Six-Month Periods Ended June 30
– Sales of 54,545 (in 2017, sales were 46,482)
– Gross operating margin: 7,139 (in 2017, it was 5,798)
– Operating income: 4,683 (compared to 3,280 in 2017)
Despite all of this, the stock is still suffering. Granted, not by much, but still. These results were pretty solid, therefore some would have thought that trading in the green was in the stock’s future.
Dynacor Gold Mines Stock (TSXV:DNG)
According to Yahoo Finance, as of 1:38 p.m. EDT, this penny stock is trading at $1.50, which puts DNG down 2.60%.
Do you think it will stay put or keep dropping as we approach market close?
The Takeaway
If you’re looking for gold penny stocks to buy, don’t completely throw Dynacor to the side. Penny stocks have ups and downs, and for the most part, it seems Dynacor, the company, is doing everything right.
Check back in next week, and we can see whether the Dynacor stock is seeing bullish movement. Further, check back tomorrow for more penny stock news!
Featured Image: Depositphotos/© alexeynovikov
