2 penny stocks to buy and hold until 2032

I’m searching for the best penny stocks to buy and own for the next 10 years. I think the following low-cost shares could prove to be great growth heroes.

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I think these penny stocks could really boost my wealth over the next 10 years. Here’s why I’d buy them today.

The brickmaking behemoth

Grabbing exposure to the UK’s strong homes market is a great idea right now. And I think investing in building materials supplier Brickability Group (LSE: BRCK) is an excellent way for me to do this.

There’s a risk that homes demand will suffer when the Help to Buy equity loan scheme ends next spring. This has the potential to derail many first-time buyers getting on the property ladder.

But I’m not expecting government to stop supporting first-time buyers. Solving the housing crisis is a key issue with voters, after all. So Britain will need to keep building to solve the issue, meaning brick sales at Brickability should remain strong.

Hot homes demand

Indeed, cabinet minister Michael Gove this week touted introducing default protection insurance to help buyers without large deposits secure a mortgage. There are other levers that the government could pull to help first-time buyers from next spring too.

There simply aren’t enough homes to go around. Low interest rates, growing competition among mortgage providers, and (in all likelihood) ongoing government support should keep the industry well supported long into the future.

Expanding for growth

Pleasingly, Brickability remains active on the acquisition stage to make the most of what are likely to remain fertile trading conditions too. It bought timber specialist Taylor Maxwell and roofing giant Leadcraft last summer to boot its product ranges and geographic footprint.

And signalling more potential action on this front Brickability commented last month that its “acquisition pipeline remains strong”. The firm added that it is “assessing a number of potential opportunities”.

At 88p per share, Brickability today trades on a forward P/E ratio of just 11 times. Meanwhile, its dividend yield of 3.1% provides a bonus. I think this represents very good all-round value.

Another penny stock to buy

Copper consumption is also likely to balloon as global construction rates ramp up. In particular, demand for the red metal is tipped to soar as urbanisation rates in emerging regions accelerate.

This is why I’m thinking of investing in Phoenix Copper (LSE: PXC) right now. This penny stock (which trades at 48p) is developing the Empire mine in Idaho with a view to producing first material in H1 next year. The asset contains some 129,641 tonnes of copper.

There’s still some way to go before Empire is up and running. Any setbacks on this front could scupper analysts expectations that Phoenix will start making profits from 2023.

Still, I think the long-term outlook for copper demand still makes this penny stock a top buy today. Phoenix can expect soaring electric vehicle sales to bolster consumption of its product alongside booming construction activity.

Australia’s government also thinks refined copper demand will surge 31% between 2020 and 2030.

Should you invest, the value of your investment may rise or fall and your capital is at risk. Before investing, your individual circumstances should be assessed. Consider taking independent financial advice.

Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

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