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Watch These 10 Gold Penny Stocks in 2023

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Written by Timothy Sykes
Updated 3/23/2023 9 min read
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Could gold penny stocks be the next hot sector?

I’ve been warning traders for months that this bubble market could burst at any time…

And if it does, traders and investors could move their money into commodities and other ‘safe’ investments.

That could mean big moves for these penny stocks.

But I’m not trying to predict the market — I’m preparing. It’s what too many traders fail to do. And that’s why most traders lose.

Don’t blindly jump into this niche or any penny stock sector. Prepare your watchlist and be ready if the right pattern presents itself.

Now, let’s get to the 10 gold penny stocks to watch in 2023…

Top 10 Gold Penny Stocks to Watch

Before I get into my list of stocks to watch in this sector, I want to emphasize that this is a watchlist. I may not even trade these stocks. And I definitely won’t invest and hold any penny stock long term.

I don’t trust any penny stock company. If you want to know why, get my no-cost book “An American Hedge Fund.” You’ll find out how I lost $500,000 of my own money from investing in one of these companies.

If you’re new to the sketchy world of penny stocks, start your education with my FREE penny stock guide.

Add these penny stocks to your watchlist and keep an eye on them for news. It could be company-specific news like acquiring new mining claims. Or it could be sector-wide news, such as an increase in gold commodity prices that push for more exploration.

Always wait for a pattern and have a strategy that works for you. Then make a trading plan.

Here’s the gold penny stocks list…

Gold Penny Stocks #1: New World Gold Corp. (OTCPK: NWGC)

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NWGC is a sketchy OTC pink sheet stock. Its company description on OTCmarkets.com states “Gold Ore Exploration.” It has the ‘stop sign’ designation, which means the company’s information isn’t up-to-date.

But despite the lack of news or information, the stock’s trading high volume and making new highs. It could be a pump — trade cautiously. Aim for singles and sell into strength.

 

Gold Penny Stocks #2: Gold X Mining Corp. (OTCQX: GLDXF)

GLDXF is a Canadian gold mining penny stock and developing a project in South America.

In March, the company signed an agreement to be acquired by Gran Colombia Gold Corp. (OTCQX: TPRFF). The company will hold a shareholder meeting in May to vote on the agreement.

 

Gold Penny Stocks #3: Gran Colombia Gold Corp. (OTCQX: TPRFF)

TPRFF is a Canadian gold company that explores for gold in Columbia. This is the ticker I just mentioned that’s in an agreement to acquire GLDXF. The agreement’s pending shareholder approval.

This company pays a dividend. The stock trades right around $5 per share with low volume.

 

Gold Penny Stocks #4: Sokoman Minerals Corp. (OTCQB: SICNF)

Sokoman Minerals Corp. is a Canadian company. This gold exploration company focuses on acquiring mineral-rich properties. Its primary property is located in Central Newfoundland, Canada.

In March this year, the company announced it acquired a second property. The new property in Northwestern Newfoundland has over 1,800 gold claims.

This stock made this watchlist because it’s a former runner. In 2018, it went from under 5 cents a share to almost 45 cents in a few weeks. In March this year, it went from roughly 17 cents a share to over 35 cents on higher than average volume.

 

Gold Penny Stocks #5: Minera Alamos Inc. (OTCQX: MAIFF)

MAIFF is another Canadian gold penny stock company. It acquires properties and explores for gold, silver, and copper in Mexico.

In February, management participated in the Metals and Mining Virtual Investor Conference. On-demand viewing of the presentation is available for 90 days here.

 

Gold Penny Stocks #6: Labrador Gold Corp. (OTCQX: NKOSF)

Labrador Gold Corp. is another Canadian gold exploration company.

In March it received permits for its drill program and provided this exploration update.

 

Gold Penny Stocks #7: Vanstar Mining Resources Inc. (OTCPK: VMNGF)

Yep, another Canadian gold mining penny stock. VMNGF acquires, explores, and develops mining properties in Canada.

In January 2021, the company appointed a new president and CEO.

In February, the company provided a business update and said, “The Company is in a strong financial position with $5.8 million in cash and an active exploration program planned for 2021.”

Read the full press release here.

 

Gold Penny Stocks #8: GoldMining Inc. (NYSE: GLDG)

GoldMining Inc. acquires and explores gold properties in North and South America. It has mining claims in Alaska, Northwest Territories, and Columbia.

In December 2020, the company joined the VanEck Vectors Junior Gold Miners ETF (NYSE: GDXJ).

 

Gold Penny Stocks #9: Avino Silver & Gold Mines Ltd. (NYSE: ASM)

ASM explores for gold, silver, and copper in Canada. The company recently announced it will increase its exploration and drilling program in 2021.

Read the company’s 2020 fourth-quarter earnings and year-end report here.

 

Gold Penny Stocks #10: Yamana Gold Inc. (NYSE: AUY)

Yamana Gold is a gold and silver producer. It has properties in Canada and South America.

It’s another penny stock that pays a dividend. It doesn’t have any recent news but it trades high volume.

 

See the Hottest Stocks I’m Watching

Want to know which hot stocks I’m watching each week?

Subscribe to my no-cost weekly watchlist and I’ll send my list of stocks to watch right to your inbox every week. 

Also, check my blog regularly for my daily, weekly, and monthly watchlists:

But remember that all these stocks are stocks to watch. Never blindly follow anyone’s stock picks or alerts — not even mine.

I put together these watchlists to help students and new traders learn the process behind building a watchlist and a trading plan.

Conclusion: Should You Trade Gold Penny Stocks?

Gold commodity prices are near all-time highs. Some investors consider gold to be a ‘safe’ investment when markets go down.

If we see a market correction or crash it could mean increased interest in gold and gold-related stocks.

But I never try to predict market trends or stock moves. I like to trade penny stocks that have proven they can spike. That’s why I look for big percent gainers with high volume and a catalyst.

penny stock checklist

If you want to learn the patterns and strategies I’ve used to make money in the markets for the last 20+ years, apply for my Trading Challenge today.

I don’t accept everyone. That’s why I make people apply — to weed anyone who’s too lazy to do the work.

I only want students who have the dedication and commitment it takes to become self-sufficient traders. If that’s you, apply to my Trading Challenge today.

What do you think? Will you trade gold penny stocks in 2023? Let me know in the comments … I love to hear from you! 

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Timothy Sykes

Tim Sykes is a penny stock trader and teacher who became a self-made millionaire by the age of 22 by trading $12,415 of bar mitzvah money. After becoming disenchanted with the hedge fund world, he established the Tim Sykes Trading Challenge to teach aspiring traders how to follow his trading strategies. He’s been featured in a variety of media outlets including CNN, Larry King, Steve Harvey, Forbes, Men’s Journal, and more. He’s also an active philanthropist and environmental activist, a co-founder of Karmagawa, and has donated millions of dollars to charity. Read More

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* Results are not typical and will vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here

The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

A 2000 study called “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors” evaluated 66,465 U.S. households that held stocks from 1991 to 1996. The households that traded most averaged an 11.4% annual return during a period where the overall market gained 17.9%. These lower returns were attributed to overconfidence.

A 2014 paper (revised 2019) titled “Learning Fast or Slow?” analyzed the complete transaction history of the Taiwan Stock Exchange between 1992 and 2006. It looked at the ongoing performance of day traders in this sample, and found that 97% of day traders can expect to lose money from trading, and more than 90% of all day trading volume can be traced to investors who predictably lose money. Additionally, it tied the behavior of gamblers and drivers who get more speeding tickets to overtrading, and cited studies showing that legalized gambling has an inverse effect on trading volume.

A 2019 research study (revised 2020) called “Day Trading for a Living?” observed 19,646 Brazilian futures contract traders who started day trading from 2013 to 2015, and recorded two years of their trading activity. The study authors found that 97% of traders with more than 300 days actively trading lost money, and only 1.1% earned more than the Brazilian minimum wage ($16 USD per day). They hypothesized that the greater returns shown in previous studies did not differentiate between frequent day traders and those who traded rarely, and that more frequent trading activity decreases the chance of profitability.

These studies show the wide variance of the available data on day trading profitability. One thing that seems clear from the research is that most day traders lose money .

Millionaire Media 66 W Flagler St. Ste. 900 Miami, FL 33130 United States (888) 878-3621 This is for information purposes only as Millionaire Media LLC nor Timothy Sykes is registered as a securities broker-dealer or an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. Millionaire Media LLC and Timothy Sykes cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. Millionaire Media LLC and Timothy Sykes in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, Millionaire Media LLC and Timothy Sykes accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, nor should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns.

Citations for Disclaimer

Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. Available at SSRN: “Day Trading for a Living?”

Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance and Zhang, Ke, Learning Fast or Slow? (May 28, 2019). Forthcoming: Review of Asset Pricing Studies, Available at SSRN: “https://ssrn.com/abstract=2535636”

Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: “https://ssrn.com/abstract=3423101”