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Discover Alto Metals And 2 More Exciting Penny Stocks On The ASX

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The Australian market is poised for a modest rise, buoyed by positive developments on Wall Street and reports of a potential Middle East ceasefire. Amidst these broader market movements, investors often look to smaller or newer companies for unique opportunities. Penny stocks, despite their somewhat outdated name, can still offer significant value when backed by strong financials. In this article, we explore three such penny stocks on the ASX that combine balance sheet strength with the potential for notable growth.

Top 10 Penny Stocks In Australia

Name

Share Price

Market Cap

Financial Health Rating

Embark Early Education (ASX:EVO)

A$0.80

A$146.79M

★★★★☆☆

LaserBond (ASX:LBL)

A$0.585

A$68.57M

★★★★★★

Helloworld Travel (ASX:HLO)

A$1.965

A$319.94M

★★★★★★

SHAPE Australia (ASX:SHA)

A$2.83

A$234.64M

★★★★★★

Austin Engineering (ASX:ANG)

A$0.525

A$325.58M

★★★★★☆

EZZ Life Science Holdings (ASX:EZZ)

A$2.65

A$117.72M

★★★★★★

Navigator Global Investments (ASX:NGI)

A$1.66

A$813.53M

★★★★★☆

GTN (ASX:GTN)

A$0.445

A$87.21M

★★★★★★

Atlas Pearls (ASX:ATP)

A$0.1525

A$66.44M

★★★★★★

Vita Life Sciences (ASX:VLS)

A$2.10

A$118.22M

★★★★★★

Click here to see the full list of 1,046 stocks from our ASX Penny Stocks screener.

Underneath we present a selection of stocks filtered out by our screen.

Alto Metals

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

Overview: Alto Metals Limited focuses on the exploration of gold properties in Western Australia and has a market cap of A$66.38 million.

Operations: The company generates revenue primarily from its mineral exploration activities, amounting to A$0.07 million.

Market Cap: A$66.38M

Alto Metals Limited, with a market cap of A$66.38 million, is pre-revenue and currently unprofitable, having reported a net loss of A$1.9 million for the year ending June 30, 2024. Despite this, its financial position is somewhat stable as short-term assets exceed both short-term and long-term liabilities. The company remains debt-free with no significant shareholder dilution over the past year. However, it faces challenges with less than a year's cash runway if current cash flow trends continue to decline. Recently, Patronus Resources acquired an 8.42% stake in Alto Metals for A$5.16 million on November 14, 2024.

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

Mayne Pharma Group

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

Overview: Mayne Pharma Group Limited is a specialty pharmaceutical company that manufactures and sells branded and generic pharmaceutical products across Australia, New Zealand, the United States, Canada, Europe, Asia, and internationally with a market cap of A$393.57 million.