ASX Penny Stocks To Consider In October 2024

In This Article:

In the last week, the Australian market has stayed flat, but it is up 20% over the past year with earnings forecast to grow by 12% annually. In light of these conditions, identifying stocks with strong financials becomes crucial for investors seeking potential growth opportunities. While 'penny stocks' might seem like an outdated term, they represent smaller or newer companies that can offer a mix of affordability and growth potential; this article highlights three such stocks that stand out for their financial strength.

Top 10 Penny Stocks In Australia

Name

Share Price

Market Cap

Financial Health Rating

LaserBond (ASX:LBL)

A$0.555

A$65.06M

★★★★★★

Embark Early Education (ASX:EVO)

A$0.805

A$128.44M

★★★★☆☆

MaxiPARTS (ASX:MXI)

A$1.895

A$104.82M

★★★★★★

Austin Engineering (ASX:ANG)

A$0.50

A$310.07M

★★★★★☆

Helloworld Travel (ASX:HLO)

A$1.865

A$300.41M

★★★★★★

Navigator Global Investments (ASX:NGI)

A$1.72

A$842.94M

★★★★★☆

West African Resources (ASX:WAF)

A$1.71

A$1.82B

★★★★★★

Atlas Pearls (ASX:ATP)

A$0.13

A$56.64M

★★★★★★

GTN (ASX:GTN)

A$0.47

A$92.11M

★★★★★★

Joyce (ASX:JYC)

A$3.93

A$115.92M

★★★★★★

Click here to see the full list of 1,026 stocks from our ASX Penny Stocks screener.

We'll examine a selection from our screener results.

BKI Investment

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

Overview: BKI Investment Company Limited is a publicly owned investment manager with a market cap of A$1.42 billion.

Operations: The company generates revenue of A$68.34 million from the Securities Industry segment.

Market Cap: A$1.42B

BKI Investment Company Limited, with a market cap of A$1.42 billion, faces challenges with its dividend sustainability as its 4.46% yield is not well covered by earnings or free cash flows. Despite being debt-free and having stable weekly volatility of 2%, BKI's return on equity is low at 4.7%, and it experienced negative earnings growth over the past year. Revenue for the year ended June 30, 2024, was A$68.34 million, down from A$72.75 million the previous year, while net income also declined to A$64.39 million from A$70.07 million last year.

ASX:BKI Debt to Equity History and Analysis as at Oct 2024
ASX:BKI Debt to Equity History and Analysis as at Oct 2024

NRW Holdings

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

Overview: NRW Holdings Limited, with a market cap of A$1.72 billion, offers diversified contract services to the resources and infrastructure sectors in Australia through its subsidiaries.

Operations: The company's revenue is derived from its Mining segment, which generated A$1.52 billion, followed by the MET and Civil segments with revenues of A$791.81 million and A$655.46 million respectively.