The world of penny stocks is filled with explosive growth stories. And with financial conditions significantly improving throughout 2024, plenty of these micro-cap enterprises have seen their prices skyrocket. That includes companies like ( ), which has seen its valuation steadily climb by more than 170% since last November! Seeing such strong price appreciation from a tiny company is always exciting.
Even more so, given today’s forward ratio is just 1.9! In other words, if this business meets its projected earnings targets, investors could be looking at a bargain buying opportunity for an explosive growth opportunity. A new gold mining bargain? Serabi Gold’s a Brazil-based gold exploration and production business.
With uncertainty in the financial markets rising over the last couple of years, demand for gold’s been steadily increasing. The result of this has been made perfectly clear when looking at the price chart for the shiny yellow metal. Even in the last 12 months, the price of gold per ounce has jumped from around $1,980 to $2,670.
That’s obviously been a fantastic tailwind for gold mining businesses like Serabi. And over the first six months of 2024, revenue’s jumped from $30.5m to $42.
6m year-on-year, with net earnings almost doubling from $5.6m to $9.2m! However, as impressive as this growth’s been, it might be just the tip of the iceberg.
In 2022, Serabi brought its second mining site – Coringa – to production. Apart from reducing the single-asset r.