Question

WHAT ARE THE BEST 7 PENNY STOCKS TO BUY RIGHT NOW? and why asap

Answer 1

The best Seven Penny Stocks to buy right now are :

1. Smith Micro Software, Inc. (SMSI) : Around the middle of March, Smith Micro Software, Inc. (SMSI) prices sank drastically as the coronavirus threat – and the knock-on effects to the economy – grew more severe. (Pretty much every other stock fell off a cliff, too.) But software firm Smith Micro Software is a tough little equity with a good track record for recoveries. In fact, it has already seen a near-20% rebound over the past week. While I expect volatility to continue to wreak havoc on the stock's performance, I also think it will emerge from this mess a victor over the medium to longer term.

2. Fortuna Silver Mines Inc. (FSM) : Fortuna Silver Mines Inc. are ridiculously undervalued and have massive upside potential as a flight-to-safety play, in my opinion. Once gold prices and then silver prices rise – something I see as inevitable in the current market environment – then junior miners like Fortuna Silver Mines Inc. (FSM) should benefit tremendously. Some more patience may be required, but I expect Fortuna Silver investors to start reaping more substantial rewards by the end of this year.

3. Eros International Plc (EROS) : In these difficult times of self-isolation and quarantine, one market winner will of course be Netflix, Inc. (NFLX). Not only has its streaming entertainment saved countless people from losing their minds from boredom, but commentators are expecting share prices to hit the $400 mark very soon.

4. Americas Gold and Silver Corporation (USAS) : There is growing optimism in the markets around the precious metals and miners (just as I've been predicting for a while now). Even investors who previously disdained gold and silver are now running to the metals in the midst of all this market volatility. This optimism has yet to manifest as substantially as I'd like, unfortunately. Nonetheless, I firmly believe that Americas Gold and Silver Corporation's (USAS) potential 300% production increase for 2020 through 2021 and excellent forward P/E ratio of 5.30, paired with a highly bullish outlook for the miners, will stand it in good stead over the next 12 months. Specifically, I wouldn't be surprised to see Americas Gold and Silver shares climb to the $4.50 level by the end of 2020.

5. Endeavour Silver Corp. (EXK) : Canadian silver miner Endeavour Silver Corp. (EXK) is down around 13% over the past month and is currently priced at a measly $1.38. We doubt that this will be the case for much longer, however. Although silver prices have taken a beating from coronavirus fears hurting industrial demand, prices are already up by a double-digit percentage over the year. Despite some short-term volatility, we believe that the silver rally will continue over the next several years. Wall Street is currently predicting that silver will rise to the $19 level by the end of 2020. In this context, Endeavour Silver – with low debt/equity ratios, predicted earnings per share (EPS) growth next year of 150%, and a decent balance sheet – is looking like a no-brainer, in my opinion.

6. IAMGOLD Corporation (IAG) : Despite a strong balance sheet (with quick and current ratios of 3.60 and 4.70) and P/B ratio of 0.56 comparing very favorably with the industry median of 1.49, IAMGOLD Corporation (IAG) stock was priced at only $2.41 as of the time I was writing this report. Indeed, it's down around 40% from its 52-week high – which is exactly opposite to the way it should be trading right now, given all the turmoil in the markets.

7. Overseas Shipholding Group, Inc. (OSG) : Overseas Shipholding Group, Inc. (OSG) is blasting out a number of positive technical signals at the moment. It capped off the last week of March with a bullish Marubozu candlestick pattern, and that has been confirmed by a week of positive activity at 25% growth. Moreover, consider that Overseas Shipholding exponential moving average (5) is an excellent $2.24, and its simple moving average (5) is $2.25, both indicating a Strong Buy opportunity. Meanwhile, its oscillators are also presenting the stock as a Buy opportunity, with the Awesome Oscillator at 0.19 and Momentum (10) at 0.32.