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7 Penny Stocks That Don’t Care About Robinhood in 2021 - 1 of 7

 
#1 - New Gold (NYSEAMERICAN:NGD)

New Gold logo

The first penny stock for you to consider is the junior miner, New Gold (NYSEAMERICAN:NGD). Prior to the pandemic, New Gold was a pure penny stock, meaning it was trading for less than $1 per share. At one point last year, fear and uncertainty drove the stock as high as $2.35 per share. NGD stock has given up about some of those gains, but it’s still trading at a premium over the last 12 months.

Buying gold is always a safety play. NGD stock has been dropping along with cases of the novel coronavirus and inversely to the number of vaccines going in arms. But that’s not the only economic metric there is. As the recent rise in unemployment claims suggests, there is still a lot of damage to repair. Many businesses will need time to build back. And economists are cautioning that stimulus may be necessary, but the bill will come due. All of these are arguments for gold.

There are many ways to invest in precious metals. And mining stocks may not be your preferred way of doing that. However, as a speculative bet on a penny stock, it does offer exposure to a safe-haven asset which, unlike Bitcoin (BTC) has a better track record.

About New Gold
New Gold Inc, an intermediate gold mining company, engages in the development and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interests in the Rainy River gold-silver mine located in Ontario, Canada; and New Afton gold-copper mine located in British Columbia, Canada. Read More 

Current Price: $1.76
Consensus Rating: Hold
Ratings Breakdown: 2 Buy Ratings, 4 Hold Ratings, 2 Sell Ratings.
Consensus Price Target: $1.66 (5.5% Downside)





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