ASX Penny Stocks To Consider In October 2024

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The Australian stock market is experiencing a cautious rise, with the ASX200 set to increase by 0.27%, despite global uncertainties impacting investor sentiment. In this context, identifying stocks with solid fundamentals becomes crucial for investors seeking potential opportunities. Penny stocks, though an older term, remain relevant as they often represent smaller or newer companies that can offer both affordability and growth potential when backed by strong financials.

Top 10 Penny Stocks In Australia

Name

Share Price

Market Cap

Financial Health Rating

LaserBond (ASX:LBL)

A$0.57

A$66.82M

★★★★★★

Embark Early Education (ASX:EVO)

A$0.795

A$126.84M

★★★★☆☆

MaxiPARTS (ASX:MXI)

A$1.825

A$100.95M

★★★★★★

Austin Engineering (ASX:ANG)

A$0.50

A$310.07M

★★★★★☆

Helloworld Travel (ASX:HLO)

A$1.85

A$298M

★★★★★★

Navigator Global Investments (ASX:NGI)

A$1.70

A$833.14M

★★★★★☆

West African Resources (ASX:WAF)

A$1.715

A$1.95B

★★★★★★

Atlas Pearls (ASX:ATP)

A$0.135

A$58.82M

★★★★★★

GTN (ASX:GTN)

A$0.47

A$92.11M

★★★★★★

Joyce (ASX:JYC)

A$3.90

A$115.04M

★★★★★★

Click here to see the full list of 1,029 stocks from our ASX Penny Stocks screener.

Here's a peek at a few of the choices from the screener.

Credit Clear

Simply Wall St Financial Health Rating: ★★★★★★

Overview: Credit Clear Limited develops and implements a receivables management platform and provides receivable collection services in Australia and New Zealand, with a market cap of A$142.98 million.

Operations: The company's revenue is derived from two segments: Collections, generating A$35.09 million, and Legal Services, contributing A$7.15 million.

Market Cap: A$142.98M

Credit Clear Limited, with a market cap of A$142.98 million, operates in the receivables management sector across Australia and New Zealand. Despite being unprofitable, the company has positive and growing free cash flow, providing a runway for more than three years. Recent earnings results show an increase in sales to A$42 million for the year ending June 2024, reducing net losses significantly from A$11.06 million to A$4.5 million year-on-year. The appointment of Jodie Bedoya as a non-executive director brings extensive industry expertise to its board, potentially strengthening its strategic direction in debt resolution services.

ASX:CCR Revenue & Expenses Breakdown as at Oct 2024
ASX:CCR Revenue & Expenses Breakdown as at Oct 2024

Energy Metals

Simply Wall St Financial Health Rating: ★★★★★★

Overview: Energy Metals Limited is a uranium exploration company based in Australia with a market cap of A$23.07 million.