5 Popular Penny Stocks on Robinhood

2. Hycroft Mining Holding Corporation (NASDAQ:HYMC)

Stock Price as of June 10: $1.260

Number of Hedge Fund Holders: 12

Hycroft Mining Holding Corporation (NASDAQ:HYMC) is a precious metals development company that owns the Hycroft Mine in Northern Nevada. The company had to seize its operations in late 2021 as it struggled with high levels of debt. Hycroft Mining Holding Corporation (NASDAQ:HYMC) was facing high costs in transporting the output from its mine to offsite processing facilities.

However, Hycroft Mining Holding Corporation (NASDAQ:HYMC) was injected with $27.9 million by AMC Entertainment Holdings, Inc. (NYSE:AMC) in exchange for a 22% stake in March. The company has the opportunity to use this capital injection to build a process plant near its mining facility, which is the base problem. The firm’s recent milestones include increasing underground reserves by 50% and mill capacity by 20%. Hycroft Mining Holding Corporation (NASDAQ:HYMC) stock is up over 100% YTD.

Hycroft Mining Holding Corporation (NASDAQ:HYMC) was held by 12 hedge funds during Q1 2022, up from 11 in the preceding quarter.