Let's face it, this is America, and we like getting a lot for a
little (hence the prevalence of dollar stores and all-you-can-eat
buffets in this great nation of ours). Investors also like getting
a lot for a little, which explains the popularity of penny stocks.
Who wouldn't like the chance to turn their spare change into a
small fortune? And unlike most established companies with fairly
steady share prices, penny stocks afford you the opportunity to
make a massive amount of money in a short amount of time. Of
course, the trick is picking the right penny stocks to buy.
The stocks on this list might not be what you would consider
"true penny stocks." But in any market, and especially in a
volatile, headline-driven one, micro-cap pink sheet or OTC stocks
that cost only a few cents per share are incredibly risky
investments. The companies on this list are super cheap, but they
also carry market caps of $100 million or larger, making them much
Here are 10 top penny stocks to buy now:
Uranium Resources Inc. (URRE)
Uranium exploration, mine development and production company
Uranium Resources Inc.
(NASDAQ: URRE) has watched its stock value skyrocket 179% in the
past 12 months - and it is still trading for less than $2 per
share! This is even more impressive when you consider that
investors fled the sector in March after the nuclear power plant
crisis in Japan, causing URRE to lose close to 50%. Since its March
16 low, shares have climbed 38% to $1.92. With a 52-week trading
range of 38 cents to $3.98, look for shares to make their way
higher as the sector continues to rebound.
Sprott Resource Lending (SILU)
Formerly known as Quest Capital Corp.,
Sprott Resource Lending Corp.
) has returned 40% in the past year, and is currently trading at
$1.78. SILU has had an up-and-down year, but this penny stock has
the potential to bring you fast gains. During a two-day span in
early April, SILU jumped 13%.
AEterna Zentaris (AEZX)
AEterna Zentaris Inc.
), a drug development company specializing in oncology and
endocrine therapy, has seen its stock value increase 55% in the
past 12 months. Up over 8% since the start of January, AEZA is
sitting at $1.90.
RAE Systems Inc. (RAE)
RAE Systems Inc.
) develops and manufactures radiation and chemical monitors. Since
the nuclear crisis in Japan, the company has ramped up production
of its radiation-detection products. Currently trading at $1.87,
the stock has also ramped up, climbing 16% year to date. And it is
up an impressive
116% in the past year.
Cardero Resource Corp. (CDY)
Cadero Resource Corp.
) is down about 18% since the start of 2011, but shares are still
up 50% in the past six months. Currently at $1.80, this mineral
exploration company is a penny stock worth buying with a 52-week
range of $1 to $2.37.
Sirius XM Radio (SIRI)
Satellite radio broadcaster
Sirius XM Radio Inc.
) is popular among penny stock investors. At $1.83, SIRI is up 67%
in the last year, and 20% since mid-January. Investors should also
note the company's quarterly revenue growth of 9% from last
Capstone Turbine Corp. (CPST)
Next on our list is
Capstone Turbine Corp.
), which develops, manufactures and markets microturbine technology
solutions. Currently at $1.69, in the past six months, CPST stock
has jumped 122%. This penny stock also posted quarterly revenue
growth of 51% year over year in its last income statement.
Kimber Resources (KBX)
Exploration-stage gold and silver company
Kimber Resources Inc.
) has gained 26% year to date, and is up 58% in the past year. At
$1.67, this penny stock is worth a close look for potential
investors. The stock's 52-week range is 60 cents to $2.17.
Junior mining company
) has watched its stock increase 73% in the past 12 months.
Currently trading at $1.64, URG has more than doubled its 52-week
low of 73 cents, and is a great choice for penny stock
Gold Reserve (GRZ)
Last on the list is exploration-stage company
Gold Reserve Inc.
). In the past 12 months, this penny stock has outperformed the
broader markets to the tune of a 58% increase. More recently, GRZ
is up 16% in the past six months, trading at $1.77.
As of this writing, Louis Navellier did not own a position in
any of the stocks named here.