ASX Penny Stocks: 3 Picks With Market Caps Under A$400M

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As the ASX 200 looks to open with a modest rise, driven by international trade talks and local economic developments, investors are keeping a close eye on market movements. Penny stocks, though a somewhat outdated term, continue to pique interest due to their potential for growth at lower price points. By focusing on companies with strong financials and solid fundamentals, investors can uncover opportunities in this often-overlooked segment of the market.

Top 10 Penny Stocks In Australia

Name

Share Price

Market Cap

Financial Health Rating

Lindsay Australia (ASX:LAU)

A$0.665

A$210.92M

★★★★☆☆

CTI Logistics (ASX:CLX)

A$1.835

A$147.8M

★★★★☆☆

Accent Group (ASX:AX1)

A$1.875

A$1.13B

★★★★☆☆

EZZ Life Science Holdings (ASX:EZZ)

A$1.54

A$72.65M

★★★★★★

IVE Group (ASX:IGL)

A$2.62

A$403.96M

★★★★★☆

GTN (ASX:GTN)

A$0.60

A$114.64M

★★★★★★

Bisalloy Steel Group (ASX:BIS)

A$3.63

A$172.24M

★★★★★★

Regal Partners (ASX:RPL)

A$2.12

A$712.67M

★★★★★★

Navigator Global Investments (ASX:NGI)

A$1.705

A$835.59M

★★★★★☆

Tasmea (ASX:TEA)

A$2.95

A$690.41M

★★★★★☆

Click here to see the full list of 998 stocks from our ASX Penny Stocks screener.

Let's explore several standout options from the results in the screener.

Caravel Minerals

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

Overview: Caravel Minerals Limited, with a market cap of A$100.58 million, explores for mineral tenements in Western Australia through its subsidiaries.

Operations: Caravel Minerals Limited does not report any revenue segments.

Market Cap: A$100.58M

Caravel Minerals Limited, with a market cap of A$100.58 million, is pre-revenue and currently unprofitable, reporting a net loss of A$4.51 million for the half year ended December 31, 2024. Despite this, the company maintains strong financial health with no debt and short-term assets exceeding liabilities by A$7.8 million. The management team is experienced with an average tenure of over five years, providing stability in leadership. Shareholder dilution has not been significant recently, and Caravel possesses a cash runway sufficient for over a year under current conditions despite declining earnings historically.

ASX:CVV Debt to Equity History and Analysis as at May 2025
ASX:CVV Debt to Equity History and Analysis as at May 2025

Jupiter Mines

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

Overview: Jupiter Mines Limited is an independent mining company based in Australia with a market capitalization of A$382.40 million.

Operations: The company generates revenue from its manganese operations in South Africa, amounting to A$9.49 million.