3 Long-Term Stocks to Buy to Turn Pennies Into Millions

Stocks to buy

Did you know that much like discount stores, penny stocks are usually filled with inferior goods? However, a precious gem of an opportunity may be hidden among the risks.

Because of fraud and questionable tactics, these stocks are considered suspicious. Yet, finding a possible winner can result in big profits. This is an excellent time to consider making smart investments in a few chosen penny companies before they increase in value.

Indeed, Wall Street’s focus on large-cap tech has completely overlooked undervalued penny stocks. But early investors may still get significant rewards. Careful risk management can reduce losses and profit considerably, even with volatility and dilutions. Let’s take a look at three long-term promising stocks.

Li-Cycle Holdings Corp. (LICY)

Person holding cellphone with logo of battery recycling company Li-Cycle Corp.(LICY) on screen in front of business webpage. Focus on phone display. Unmodified photo.

Source: T. Schneider / Shutterstock.com

Having the urge to grow worldwide, Li-Cycle Holdings (NYSE:LICY), a North American recycler of lithium-ion batteries, unveiled its expansion plan by dropping a processing facility in Germany. Therefore, the company recycles 10,000 tons yearly, setting a goal to triple that number. 

The U.S. Department of Energy has graciously offered a $375 million loan for its North American project. Yet, the challenges don’t stop Li-Cycle’s growth potential from being a shining investment in the EV sector.

Li-Cycle Germany GmbH is a company busy about recycling lithium-ion (Li-ion) batteries. It’s expanded its European operation by €6.4 million thanks to a grant from Saxony-Anhalt, as reported by LICY. As the need for greener solutions grows, the investment will support its battery-spoke recycling facility and advance sustainability initiatives. 

Surge Battery Metals (NILIF)

a pile of lithium. lithium stocks

Source: Bjoern Wylezich/ShutterStock.com

The highest-grade U.S. clay resource was found at Surge Battery Metals’ (OTCMKTS:NILIF) Nevada North lithium project, the company stated on February 22. Looking at the data from similar deposits, the first estimate for NNLP yields 4.7 million tons of lithium carbonate equivalent (LCE) at 2,839 ppm lithium.

Surge Battery Metals CEO Greg Reimer points out that NNP is a significant lithium deposit with high-grade clay resources. The site, 73 km northeast of Wells, has 725 mineral claims and inferred lithium carbonate. In fact, that’s equivalent to more than 4 million tons at 3,167 ppm. The estimates include 20 holes totaling 2,758 meters and 1973 samples, based on drilling from 2022 to 2023.

Further, the mineralized zone spans over 3,500 meters in strike length and 950 meters wide. So, a 2024 drill program focuses on expanding the resource with additional surface mapping and soil sampling.

On the TSX Venture Exchange, Surge Battery Metals Inc. has been listed as one of the Top 50 mining companies for 2024. Thanking Surge for the acknowledgment, CEO Reimer spotlighted the company’s achievement in advancing the Northern Nevada Lithium Project (NNLP).

TMC the Metals Company (TMC)

A photograph of the ocean.

Source: Manu Galdamez/ShutterStock.com

Turning a profit despite recent setbacks, The Metals Company (NASDAQ:TMC) is a deep-sea mining company. It prides itself in valuable polymetallic nodules from the Central Coast Zone (CCZ). So, the market’s perception of the company’s chances for success in reaching breakeven is closely examined.

Currently, TMC is a popular penny stock with its eyes on essential minerals for electric vehicles and clean energy. Using deep-sea exploration, it aims to be a significant supplier. Also, analysts see a breakeven around 2025’s corner and up to $1B in revenue when 2027 comes around.

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.

Read More: Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.

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