ASX Penny Stocks To Watch In November 2024

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Over the last 7 days, the Australian market has risen 1.5%, contributing to a 17% increase over the past year, with earnings forecasted to grow by 12% annually. For investors interested in smaller or newer companies, penny stocks—despite their somewhat outdated name—can still present intriguing opportunities when backed by strong financials. This article explores several penny stocks that stand out for their financial strength and potential for long-term growth.

Top 10 Penny Stocks In Australia

Name

Share Price

Market Cap

Financial Health Rating

LaserBond (ASX:LBL)

A$0.59

A$68.57M

★★★★★★

Embark Early Education (ASX:EVO)

A$0.81

A$146.79M

★★★★☆☆

Helloworld Travel (ASX:HLO)

A$2.00

A$318.31M

★★★★★★

Austin Engineering (ASX:ANG)

A$0.54

A$310.07M

★★★★★☆

MaxiPARTS (ASX:MXI)

A$1.89

A$103.44M

★★★★★★

SHAPE Australia (ASX:SHA)

A$2.88

A$239.61M

★★★★★★

Navigator Global Investments (ASX:NGI)

A$1.65

A$825.78M

★★★★★☆

West African Resources (ASX:WAF)

A$1.48

A$1.7B

★★★★★★

Atlas Pearls (ASX:ATP)

A$0.15

A$69.71M

★★★★★★

Servcorp (ASX:SRV)

A$4.80

A$483.46M

★★★★☆☆

Click here to see the full list of 1,044 stocks from our ASX Penny Stocks screener.

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

Aurelia Metals

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

Overview: Aurelia Metals Limited is an Australian company involved in the exploration and production of mineral properties, with a market capitalization of A$287.57 million.

Operations: The company's revenue segments comprise the Hera Mine generating A$0.20 million, the Peak Mine contributing A$207.34 million, and the Dargues Mine adding A$102.36 million.

Market Cap: A$287.57M

Aurelia Metals Limited, with a market cap of A$287.57 million, remains unprofitable despite generating A$309.89 million in sales for the year ending June 2024. The company has seen its debt to equity ratio rise over five years but maintains more cash than total debt and sufficient short-term assets to cover liabilities. While earnings are forecasted to grow annually by 30.18%, challenges persist due to negative return on equity and increasing losses over the past five years at a significant rate. Management and board experience is limited, potentially impacting strategic direction amidst stable weekly volatility in stock performance.

ASX:AMI Financial Position Analysis as at Nov 2024
ASX:AMI Financial Position Analysis as at Nov 2024

Djerriwarrh Investments

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

Overview: Djerriwarrh Investments Limited is a publicly owned investment manager with a market cap of A$833.34 million.