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The Australian market has seen a slight downturn, with the ASX200 down 1.1% at 8,162 points in afternoon trade, influenced by sectoral declines in Financials and Health Care. Amid these broader market movements, investors may find opportunities in penny stocks—an investment area that continues to intrigue despite its old-fashioned name. These stocks often represent smaller or newer companies that can offer significant value when they possess strong financial foundations and growth potential.
Top 10 Penny Stocks In Australia
| Name | Share Price | Market Cap | Financial Health Rating |
| Embark Early Education (ASX:EVO) | A$0.79 | A$144.95M | ★★★★☆☆ |
| Helloworld Travel (ASX:HLO) | A$1.92 | A$312.61M | ★★★★★★ |
| Austin Engineering (ASX:ANG) | A$0.55 | A$341.08M | ★★★★★☆ |
| MaxiPARTS (ASX:MXI) | A$1.87 | A$103.44M | ★★★★★★ |
| LaserBond (ASX:LBL) | A$0.62 | A$72.68M | ★★★★★★ |
| SHAPE Australia (ASX:SHA) | A$2.77 | A$229.66M | ★★★★★★ |
| Navigator Global Investments (ASX:NGI) | A$1.665 | A$815.98M | ★★★★★☆ |
| Perenti (ASX:PRN) | A$1.185 | A$1.09B | ★★★★★★ |
| West African Resources (ASX:WAF) | A$1.535 | A$1.75B | ★★★★★★ |
| EZZ Life Science Holdings (ASX:EZZ) | A$3.05 | A$135.49M | ★★★★★★ |
Click here to see the full list of 1,035 stocks from our ASX Penny Stocks screener.
Let's take a closer look at a couple of our picks from the screened companies.
Cannindah Resources
Simply Wall St Financial Health Rating: ★★★★★☆
Overview: Cannindah Resources Limited, along with its subsidiaries, is involved in the exploration, evaluation, and development of mineral projects in Australia and has a market cap of A$24.28 million.
Operations: No specific revenue segments are reported for the company.
Market Cap: A$24.28M
Cannindah Resources is a pre-revenue company with a market cap of A$24.28 million, operating in the mineral exploration sector. Despite being debt-free and having an experienced board, it faces financial challenges with short-term liabilities exceeding its assets and no significant revenue streams. The company recently completed a A$5 million equity offering to bolster its cash position after reporting a net loss of A$1.51 million for the year ending June 2024, slightly improved from the previous year’s loss. Its shares have not been meaningfully diluted over the past year, maintaining stability for existing shareholders.
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Take a closer look at Cannindah Resources' potential here in our financial health report.
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Review our historical performance report to gain insights into Cannindah Resources' track record.
Cynata Therapeutics
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: Cynata Therapeutics Limited, with a market cap of A$42.46 million, develops and commercializes proprietary stem cell technologies under the Cymerus brand for therapeutic use in Australia.