With gold prices soaring to new all-time highs and passing $2,000 per ounce for the first time ever over the weekend, I thought it may be a good time to deep dive into some gold penny stocks.
I don’t often recommend penny stocks, but the positive momentum for this company is so high, I had to bring it to your attention.
Shares were trading as low as $0.39 back in mid-March.
Since then, the stock has shot up a whopping 310%, quadrupling investor’s money. And now it sits at $1.60 per share.
That means, if you just bought 10,000 shares for $3,900, you’d have $16,000 today.
With gold’s breakout, let’s see if this stock can quadruple investors’ money again by next year…
New Gold Inc. (NYSE: NGD)
Headquartered in Toronto, New Gold Inc. (NYSE: NGD) is an intermediate gold mining company with operations across the globe.
[finviz ticker=NGD]The company has a portfolio of three producing assets: The New Afton Mine in Canada, the Mesquite Mine in the United States, and the Cerro San Pedro Mine in Mexico.
In addition, New Gold owns 100% of the Rainy River and Blackwater projects in Canada, along with a minority stake in the gold stream on the El Morro project in Chile.
The New Afton Mine is the largest division, contributing roughly 50% of group revenue.
Speaking of revenues, they’ve increased 63% from fiscal 2017 to 2019.
And I think they could increase another 40-60% in 2020 with the price of gold surging.
It wouldn’t surprise me to see NGD stock double again (to $3.20 per share) before the end of the year.
In the meantime, here’s another gold penny stock that you may be interested in…
Hurry: Tiny $1 gold stock going vertical
By August 31, a critical announcement will reveal the biggest gold mine in America.
Sending the $1 miner that owns it down a path for up to 100-fold gains.
Its real gold windfall has been kept hidden from the public. But that’s about to change for reasons you can see here.
You need to position yourself immediately.
Not only is the announcement coming…
But gold is approaching record prices… and as you’ll see, a well-known billionaire who made $4 billion shorting the housing market in 2008 just went all-in on this tiny gold stock that’s poised to become the biggest in America.
