Two Stocks Under $2 That Could Double Your Money
If you are looking for some cheap stocks that have strong growth potential, you might want to consider these two picks that are trading under $2 per share. Both of them have received positive ratings from analysts and have shown impressive performance in their respective sectors.
CES Energy Solutions (OTCMKTS:CESDF)
CES Energy Solutions is a Canadian company that provides advanced consumable fluids and specialty chemicals for the oil and gas industry. The company operates in Canada and the United States, offering solutions for drilling, completion, production, and pipeline markets.
CES Energy Solutions has been growing its revenue and earnings despite the challenging environment for the energy sector. In the first quarter of 2022, the company reported revenue of $7.1 million, up 101% year-over-year, and net income of $1.26 million, up 74% year-over-year. The company also pays a generous dividend yield of 6.45%, which is rare for a penny stock.
Analysts are bullish on CES Energy Solutions, with two buy ratings and no hold or sell ratings. The consensus price target is $4.31, which implies a whopping 124.7% upside from the current price of $1.92.
Taseko Mines (NYSEAMERICAN:TGB)
Taseko Mines is a mining company that operates in Canada and the United States. The company owns and develops copper, gold, molybdenum, and niobium projects, with its flagship asset being the Gibraltar copper mine in British Columbia.
Taseko Mines has been benefiting from the rising demand and prices for copper, which is used in various industries such as construction, electronics, and renewable energy. The company reported record revenue of $373 million and record net income of $113 million for 2021, driven by higher copper production and sales volumes.
Analysts are also optimistic about Taseko Mines, with one buy rating and no hold or sell ratings. The consensus price target is $2.73, which represents a potential 67.5% increase from the current price of $1.63.
Investing in stocks under $2 can be risky, but it can also be rewarding if you pick the right ones. CES Energy Solutions and Taseko Mines are two examples of cheap stocks that have strong fundamentals, positive outlooks, and attractive upside potential. If you are looking for some low-priced stocks to add to your portfolio, you might want to give these two a closer look.
If you are interested in buying these two stocks under $2, you should do your own research and due diligence before making any investment decisions. You should also be aware of the risks involved in investing in penny stocks, such as high volatility, low liquidity, and limited financial information. Penny stocks are not suitable for all investors and may result in significant losses.
However, if you are willing to take some calculated risks and have a long-term horizon, you might be able to reap some substantial rewards from these two stocks under $2. CES Energy Solutions and Taseko Mines have proven their ability to generate profits and growth in their respective industries, and they have the potential to double or even triple your money in the future.