The 3 Best Under $20 Stocks to Buy in April 2024
Most investors are familiar with diversification, such as separating investment capital into different industries in the pursuit of a well-balanced portfolio. This practice is important for a long-term trader, but what may get overlooked is that investing in stocks within varying market caps can also allow investors to gain exposure to smaller companies that may offer investors increased upside in terms of growth.
Below are three companies from multiple industries that are strong buys of stocks trading under $20 per share and may be the perfect options for investors seeking fairly cheap stocks.
Galiano Gold (GAU)
Galiano Gold (NYSE:GAU) is a gold property exploration company whose flagship mine is the Asako Gold Mine located in Ghana, West Africa. The mine typically produces between 120,000 and 130,000 ounces of gold annually.
On Feb. 16, Galiano Gold reported its earnings for the fourth quarter full year of 2023, and it stated that total revenue increased by 3% year over year. And net income fell dramatically from $8 million in Q4 2022 to $366,000 in Q4 2023. cash generated from its operating activities more than doubled from the previously mentioned time period. GAU total gold production topped its expecations with 134,000 ounces of gold produced in 2023.
Gold prices are soaring to a new high, trading at over $1,300 per ounce. The rapid surge in gold prices, which have risen by over 13% in the last year, has helped propel GAU stock higher.
Over the past year, its share price has increased by over 140%, and the recent announcement that BMO Capital upgraded GAU from Market Perform to Outperform again which was a catalyst for a surge in share price.
Galiano Gold is a strong buy. It is a gold production company that is trading very inexpensively, making it a solid pick for investors seeking exposure to commodities, especially gold, which has seen tremendous growth.
Viant Technology (DSP)
Viant Technology (NASDAQ:DSP) is an ad tech company that operates a data platform that typically uses generative AI technology to determine customer-based trends and solutions.
On Mar. 4, it released its earnings report for the fourth quarter of the full year of 2023, in which it stated that total revenue increased by 18% and gross profit rose by 41%.
Its share price has increased by over 150% just within this last year due to a number of factors, including the rise of investor interest in the company that specializes in utilizing generative AI technology and the fact that it has a history of profitability.
DSP should continue to experience growth, especially within the advertising space, which has been very profitable recently. It is a strong buy to invest in technology stocks that offer great exposure to generative AI, which is a continually advancing field.
Blue Owl Capital (OBDC)
Blue Owl Capital (NYSE:OBDC) is a business investment company that provides various financing tools, including unsecured loans, direct lending, warrants, preferred stock, and mezzanine loans.
Blue Owl Capital’s share price has increased by 24% within the last year, which is impressive compared to its peers. One of the biggest draw factors to Blue Owl Capital is its dividend yield, which is approximately 9.67% on an annual basis. Its dividend has increased over the last two years, and its latest dividend amount is thirty-seven cents per share.
On Feb. 21, OBDC reported earnings for the fourth quarter and full year of 2023, stating that net income dropped slightly by 2% and investment income increased by 17%. In addition, it beat analyst expectations regarding investment income and earnings per share.
Blue Owl Capital is a strong buy due to its outstanding dividend yield and impressive growth over the past year, which may offer investors continued upside as an investment opportunity.
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