ASX Penny Stocks To Monitor In October 2024
In This Article:
In the last week, the Australian market has been flat, although it has seen a 20% rise over the past year with earnings forecasted to grow by 12% annually. Investing in penny stocks—once a buzzword but now more of a niche—can still open doors to growth opportunities, typically in smaller or newer companies. We'll spotlight several penny stocks that stand out for their financial strength, making them promising candidates for investors seeking under-the-radar companies poised for long-term success.
Top 10 Penny Stocks In Australia
| Name | Share Price | Market Cap | Financial Health Rating |
| Embark Early Education (ASX:EVO) | A$0.80 | A$127.64M | ★★★★☆☆ |
| MaxiPARTS (ASX:MXI) | A$1.87 | A$99.57M | ★★★★★★ |
| Helloworld Travel (ASX:HLO) | A$1.845 | A$292.36M | ★★★★★★ |
| Austin Engineering (ASX:ANG) | A$0.55 | A$334.88M | ★★★★★☆ |
| LaserBond (ASX:LBL) | A$0.61 | A$74.43M | ★★★★★★ |
| Navigator Global Investments (ASX:NGI) | A$1.72 | A$823.33M | ★★★★★☆ |
| Perenti (ASX:PRN) | A$1.19 | A$1.1B | ★★★★★★ |
| Atlas Pearls (ASX:ATP) | A$0.135 | A$59.91M | ★★★★★★ |
| GTN (ASX:GTN) | A$0.47 | A$93.09M | ★★★★★★ |
| Joyce (ASX:JYC) | A$3.915 | A$117.4M | ★★★★★★ |
Click here to see the full list of 1,031 stocks from our ASX Penny Stocks screener.
We'll examine a selection from our screener results.
Civmec
Simply Wall St Financial Health Rating: ★★★★★★
Overview: Civmec Limited is an investment holding company that offers construction and engineering services across the energy, resources, infrastructure, marine, and defense sectors in Australia with a market cap of A$474.60 million.
Operations: The company's revenue is derived from three primary segments: Energy (A$31.04 million), Resources (A$876.48 million), and Infrastructure, Marine & Defence (A$125.96 million).
Market Cap: A$474.6M
Civmec Limited, with a market cap of A$474.60 million, has demonstrated significant earnings growth over the past five years at 33.8% annually, although recent growth slowed to 11.7%. The company is trading at a good value, estimated to be 50% below its fair value. Civmec's financial health is supported by strong cash flow coverage of debt and well-covered interest payments. Recent board appointments bring seasoned expertise, potentially enhancing governance and strategic oversight. However, the management team lacks experience with an average tenure of just 0.1 years which may impact operational stability amidst ongoing executive changes.
Duratec
Simply Wall St Financial Health Rating: ★★★★★★
Overview: Duratec Limited, along with its subsidiaries, provides assessment, protection, remediation, and refurbishment services for steel and concrete infrastructure assets in Australia and has a market cap of A$414.61 million.