Canadian Penny Stocks to Watch for the Week of March 6-March 12
With financial experts predicting that Canada’s housing market is preparing to dive in a way similar to what the U.S. market did in 2008, it’s time for the savvy investor to put some money away in a well-diversified, low-cost portfolio likely to do very well in the near future. Diversification is the strategy that is most successful in the long term, so you’ve got to start somewhere, even if you’re starting small with penny stocks. Metals are doing extremely well this week, and commodities like this are always good to help round out a portfolio.
Ur-Energy Inc.(URE-T 1.11)
Ur Energy has a property on Lost Creek which has just been analyzed, and mineral output is up above expectations. Ur has also acquired new properties recently, and the buzz is that they will soon be announcing positive analyses of those properties as well. Good news could push the stock higher.
Hemisphere GPS (HEM-T 0.88)
Hemisphere GPS is gaining ground steadily, and has been for the past year. It’s losses are down since last year, revenues are up, and this one looks like it could gain well in the long term.
Dacha is in a good sector for long-term stability, and they have announced that the value of their Rare Earth Metals inventory has decreased about ten percent since last year. The result is that this stock is a little undervalued now, and likely to bounce back, resulting in a gain for savvy investors who jump on this opportunity.
Northern Iron Corp (NFE-X 0.10)
Another metals company is an excellent pick today; Northern Iron Corp has released results of a drill analysis, and they are in the middle of developing a zone rich in iron over half a kilometre wide. This is excellent news for the company’s iron inventory, profits, and stock price. Since Northern has been trading at year lows, the time to buy is now before prices rise again.
Cerro Resources NL (CJO-X 0.12)
More good news from Cerro resources! In keeping with today’s general theme that metals are a good investment, Cerro has announced that results from 11 new drill holes at the Namiquipa Silver Project are positive. This large silver ore system has already resulted in huge profits for the company, and looks to continue to do so.
Williams Creek Gold Limited (WCX-X 0.38)
Gold is doing just as well as silver today. Not only is Williams Creek Gold expanding and staking claims on new, promising sites, but they have entered into an agreement to acquire a 100% interest in two of its claims from New Gold, Inc.
Marathon Gold Corporation (MOZ-T 0.69)
Marathon has also announced some very positive drill results. The Leprechaun Gold Deposit on Valentine Lake in Nfld has revealed high quality gold deposits spread over a fairly wide area. This is certainly set to boost Marathon’s stock price.