5 Popular Penny Stocks on Robinhood

4. Almaden Minerals Ltd. (NYSE: AAU)

Number of Hedge Fund Holders: 3  

Almaden Minerals Ltd. (NYSE: AAU) is a Canadian firm that explores, develops and markets minerals. It is placed fourth on our list of 10 popular penny stocks on Robinhood. The company’s shares have plunged 12% over the course of the past twelve months. The firm was founded in 1980 and has interests in gold, silver, and copper, among other metals. The company is a stakeholder in mineral projects in Mexico as well, in addition to Canada. The premier Mexican project of the firm is in the Puebla State. 

Late last year, the share price of Almaden Minerals Ltd. (NYSE: AAU) plunged close to 32% after the company was denied an environmental permit for the Ixtaca precious metals project. There were objections to the open pit mining operations, the firm later claimed. 

At the end of the first quarter of 2021, 3 hedge funds in the database of Insider Monkey held stakes worth $151,000 in Almaden Minerals Ltd. (NYSE: AAU), down from 4 in the preceding quarter worth $1.3 million.