The Best Penny Stocks Now Could Bank a 308% Return

Interest in penny stocks exploded last year during the lockdown and has continued even with the end of the pandemic in sight. Especially now that the economy is opening up, the best penny stocks are ready to ride another broad market bull run.

These are more than just "story stocks," however. Our top penny stock today has the potential to grow 308% on fundamentals, not just temporary investor zeal.

The team behind this company has dominated their industry before. Now, they're looking to go another round.

While many traders focus on the latest narrative, those who focus on low-priced shares of companies with huge long-term potential are the ones most likely to make massive gains over time. Investing in a stock purely for the hype can lead to collapse once that dies down.

The companies we're covering today are growing profits at a rapid rate by selling real products and services to real people. Each has a high chance of seeing its stock price soar by multiples of the current quote.

Before we get to our 308% gainer, here's another that could double soon.

A Penny Stock Comeback Story

Aegon N.V. (NYSE: AEG) is a Netherlands-based insurance company that needs to see its share price almost quadruple to trade at its net worth.

The insurer has struggled over the years, and the former CEO was generally too busy to be bothered to talk to or be held responsible by shareholders.

That changed in 2020, and new management headed by a new CEO is taking steps to turn the business around. With core operations in the United States, Netherlands, and United Kingdom, Aegon recently decided to sell its Central and Eastern European operations. It has other small operations in Spain, Portugal, and China that can be sold to raise cash to support core operations as well.

A complete turnaround can be achieved over the next several years, and that could help push the stock towards its book value of $15.44. That would be a massive return for shareholders who buy at today's low prices. Management has said that they think they should be able to double the current 2.84% dividend by 2023.

That should also help push the share price higher over the next few years.

Let's show you another penny stock with triple-digit potential. Then we'll show you the stock that could quadruple within a few months.

This Penny Stock Goes for Gold

Yamana Gold Inc. (NYSE: AUY) is a gold miner with operations in Canada, Brazil, Chile, and Argentina. While gold has been in a bit of a downtrend since peaking back in August, that could change in a big hurry if long-term interest rates keep rising. Any sense of inflationary pressures could send investors diving back into gold and gold mining stocks like Yamana.

Yamana has reduced its debt by over $1 billion in the past five years. The company produced more than $400 million in free cash flow last year and has more than $600 million in cash on hand, so it is very well-financed with little to no chance of serious financial difficulties.

While Yamana struggled with COVID-19 shutdowns at several of its mines last year, it still managed to produce 901,000 gold equivalent ounces in 2020 and may easily grow that output to more than 1 million ounces this year.

The stock is priced at $4.51, a bargain, based on its assets and its cash flows. Once gold resumes its uptrend, shares of Yamana Gold could move higher by 50% or more.

An extended rally in gold could lead to long-term triple-digit gains for this stock.

Finally, here's today's best penny stock with 308% potential.

Best Penny Stock to Buy Now

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Tellurian Inc. (NASDAQ: TELL) is an excellent example of a penny stock with a high-priced future.

The company is developing a portfolio of natural gas production, LNG marketing, and infrastructure assets. This will include an LNG terminal facility and related pipelines that it hopes to build near the Haynesville Shale fields.

Tellurian holds 10,067 net acres in the Haynesville gas fields, with 71 wells currently producing. There are more than 100 more potential drilling locations, so the potential is enormous.

Management recently said that the planned Driftwood LNG is shovel-ready as all major permits have been secured.

The chair of Tellurian is Charif Souki, the founder and former chair of LNG leader Cheniere Energy Inc. (NYSE: LNG). He founded the LNG leader in 1996 and ran until Carl Icahn forced him out in 2015. During his time at the helm of Cheniere, the stock rose more than tenfold.

Tellurian's team of 35-year business veterans were able to grab 18% of the market with their liquefied gas products at Cheniere. Buying shares of Tellurian at the current price of $2.54 is hoping they can do it again.

An analyst target puts the stock at $10.50, which would be a 308% return in a matter of months.

The Digital Gold Rush of the 21st Century

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