10 Best Gold Penny Stocks to Buy Now

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1. Ferroglobe PLC (NASDAQ:GSM)

Number of Hedge Fund Holders: 27

Ferroglobe PLC (NASDAQ:GSM) is a top global producer of silicon metal, ferroalloys, and manganese alloys, supporting key sectors like automotive, construction, and clean energy. With facilities across Europe and North America, the company uses a vertically integrated approach that boosts production and supply chain efficiency, making it the top pick in our list of the best penny stocks.

For the quarter ended December 31, 2024, Ferroglobe PLC (NASDAQ:GSM) saw revenue drop to $368 million, an 18% decline from the previous quarter. This fall was due to a 13% decrease in silicon metal and alloy volumes. Adjusted EBITDA fell from $60 million in Q3 to just $10 million due to weak demand, higher French energy costs, and reduced ferrosilicon prices.

Despite market headwinds, Ferroglobe PLC (NASDAQ:GSM) accomplished major milestones, primarily through trade actions. These include U.S. antidumping and countervailing duties exceeding 1,000% on Russian ferrosilicon, as well as additional tariffs on imports from Malaysia, Kazakhstan, and Brazil expected by March 2025. The European Commission’s probe into silicon imports could also increase prices and strengthen Ferroglobe’s market position.

There’s hope for a recovery in global steel output in late 2025, which would lift demand for Ferroglobe’s products. The company has also increased its investment in Coreshell, preparing to benefit from silicon’s growing role in EV battery technology.

While trade policy remains a strong factor, Ferroglobe PLC (NASDAQ:GSM) expects 2025 adjusted EBITDA between $100 million and $170 million, based on stronger demand later in the year. Early signs of stable prices in silicon metal and manganese alloys suggest better profits ahead. As Ferroglobe adapts, it’s well-placed to seize new opportunities in the global market.

Overall, Ferroglobe PLC (NASDAQ:GSM) ranks first on our list of the Best Mining Penny Stocks to Buy Now. While we acknowledge the potential of GSM, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than GSM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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