5 Best Gold Penny Stocks to Buy According to Analysts

2. Platinum Group Metals Ltd. (NYSE:PLG)

Platinum Group Metals Ltd. (NYSE:PLG) earns a place on our list of the 8 best gold penny stocks to buy according to analysts.

As of March 28, 2026, 75% of analysts have assigned bullish ratings to Platinum Group Metals Ltd. (NYSE:PLG). At the same time, the consensus price target of $3.89 implies an upside potential of 128.58%. Analyst sentiment remains strong, as the company continues to focus on accelerating progress at the Waterberg Project.

On March 10, 2026, the company announced a new equity distribution agreement with BMO Nesbitt Burns Inc., Beacon Securities Limited, and BMO Capital Markets Corp., effective immediately under its 2026 at-the-market equity program.

Under the program, Platinum Group Metals Ltd. (NYSE:PLG) may, at its discretion, distribute up to US$60 million in common shares at prevailing market prices through agents.

Proceeds from Platinum Group Metals Ltd. (NYSE:PLG)’s share sales will be utilized to support incremental development projects at the Waterberg Project, as well as general corporate and administrative expenditures over the next 24 months, according to management. Sales will take place on the TSX, NYSE American, or other mutually agreed-upon trading exchanges, with the program terminating on December 13, 2026, or upon reaching the maximum aggregate gross sales amount.

Platinum Group Metals Ltd. (NYSE:PLG), established in 2002 and based in Vancouver, Canada, engages in the acquisition, exploration, and development of platinum and palladium assets, with an emphasis on the engineering and phased advancement of its Waterberg Project.