Penny-Stock Rockets: 3 Stocks Under $9 to Make Your 1st Million

Looking for big upside? This group of explosive penny stocks, including Kinross Gold Corporation (TSX:K)(NYSE:KGC), might provide the pop you’re looking for.

| More on:
growing plant shoots on stacked coins

Image source: Getty Images

Hello there, Fools. I’m back to highlight three stocks under $9. While low-priced stocks carry plenty of risks, they can be a source of ideas when looking for

  • small, obscure, and underfollowed companies;
  • dirt-cheap bargains; or
  • intriguing turnaround situations.

If you have big dreams of turning an average $27K TFSA into a million bucks in 20 years, you’ll need an annual return of at least 20% to do it. Although low-priced stocks are on the volatile side, the upside return potential might be worth the risk.

Let’s get to it.

Fueling up

Leading off our list is alternative fuel technologist Westport Fuel Systems (TSX:WPRT)(NASDAQ:WPRT), which currently sports a lowly price tag of $3.25 per share.

Westport has been on fire in 2019 on optimism over its long-term growth trajectory, and last week’s Q2 results only reinforce that bullishness. During the quarter, earnings improved slightly as revenue jumped 12% to $82.4 million. Meanwhile, operating cash flow clocked in at $2.5 million.

More importantly, management raised its full-year top-line guidance to $285 million-$305 million (from $265 million-$295 million).

“Our global team is highly focused on becoming a sustainable, profitable company in the clean transportation space and these results demonstrate our commitment to achieving this objective,” said CEO David Johnson.

Westport shares are up a whopping 137% in 2019.

Golden results

With a lowly price tag of $6.67 per share, gold miner Kinross Gold (TSX:K)(NYSE:KGC) is next on our list.

Kinross continues to benefit nicely from the current rally in gold. In the company’s recent Q2 results, earnings, and revenue both topped expectations. Production during the quarter rose 7% year over year to 648.2 thousand attributable gold equivalent ounces at all-in sustaining costs of $925/ounce.

Thanks to the strong results, management says it’s right on track to meet its full-year production guidance of 2.5 million gold equivalent ounces.

“In the second quarter we delivered excellent operating and financial results, as our portfolio of mines increased production and lowered costs compared with the previous quarter and year,” said President and CEO J. Paul Rollinson.

Kinross shares are up 52% in 2019.

Generational wealth

Rounding out our list is oil and gas explorer Seven Generations Energy (TSX:VII), which currently sports a price tag of $7.15 per share.

Low energy prices have weighed heavily on the stock over the past year, but Fools might want to take advantage — because management sure is. Specifically, the company recently raised its share-buyback program to 18.1 million shares, or about 10% of the public float.

Moreover, management expects free cash flow of $100 million-$150 million for the full year.

“[T]he company’s successful efforts to manage operating costs and capital costs, and complete strategically important infrastructure improves the company’s resilience to commodity price volatility, accelerates free cash flow growth and enhances the long-term sustainability of returns,” wrote Seven Generations.

Seven Generations is down 54% over the past year.

The bottom line

There you have it, Fools: three amazing stocks under $9 worth checking out.

As always, don’t see them as formal recommendations. Instead, view them as a starting point for more research. Low-priced stocks are particularly fickle beasts, so plenty of homework is still required.

Fool on.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Brian Pacampara owns no position in any of the companies mentioned.   

More on Investing

stock research, analyze data
Dividend Stocks

How Much to Invest to Get $500 in Dividends Every Month

TSX dividend stocks such as Enbridge, TD Bank, and Telus, can help you earn $500 in monthly dividend payments.

Read more »

A solar cell panel generates power in a country mountain landscape.
Energy Stocks

Clean Energy Play: Is Brookfield Renewable a Good Stock for a TFSA?

Add this top renewable energy stock to your self-directed TFSA portfolio for significant long-term and tax-free wealth growth.

Read more »

Golden crown on a red velvet background
Dividend Stocks

Dividend Powerhouses: Canadian Stocks to Fuel Your Portfolio

These two top Canadian dividend aristocrats are some of the top stocks on the TSX to buy now and hold…

Read more »

Dial moving from 4G to 5G
Dividend Stocks

This Undervalued Dividend Stock is Worth Buying Right Now

Want an undervalued dividend stock with long-term potential and a juicy yield? Here's an option you may regret not buying…

Read more »

A worker gives a business presentation.
Dividend Stocks

1 Stock I’m Buying Hand Over Fist in July Despite the Market’s Pessimism

This top dividend stock is going through a rough patch, but don't let that count out all the growth we've…

Read more »

financial freedom sign

2 Stocks With Millionaire-Maker Potential

These two top Canadian stocks are among the best on the TSX, and each has the potential to be millionaire-maker…

Read more »

Piggy bank next to a financial report
Stocks for Beginners

Is It Finally the Right Time to Buy Bank Stocks?

Canadian bank stocks are some of the most secure investments out there, but of them all, this bank stock is…

Read more »

clock time

3 Blue-Chip Stocks Every Canadian Should Own

Want some reliable blue-chip Canadian stocks to buy and hold for the next 10 years? These three stocks are worth…

Read more »