5 Best Debt Free Penny Stocks To Buy Now

2. Trilogy Metals Inc. (NYSE:TMQ)

Number of Hedge Fund Shareholders: 6

Value of Hedge Funds’ TMQ Holdings: $9.01 million

Hedge fund ownership of Trilogy Metals Inc. (NYSE:TMQ) was flat quarter-over-quarter, as major shareholders like John Paulson and Seth Klarman retained their positions in the Canadian mining company. Paulson’s fund Paulson and Co. owned over 14.3 million TMQ shares on September 30, while Klarman’s Baupost Group owned 2.33 million.

The fourth and final mining company to make the list of best debt-free penny stocks, Trilogy Metals Inc. (NYSE:TMQ) is in the process of developing the Upper Kobuk Mineral Projects in Alaska alongside joint venture partner South32 Limited. One of the venture’s key areas of exploration and development in the region is the Bornite copper-cobalt project, which boasts 6.5 billion pounds of copper.

It was discovered recently that the Bornite site also contains germanium, which could be extracted as a by-product of the copper production at the site. There is rising global demand for germanium from the tech sector and limited supply, which makes its presence at Bornite a potential coup for Trilogy Metals Inc. (NYSE:TMQ).