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As the ASX 200 gears up for a potential rise, buoyed by the onset of Black Friday sales and a robust performance from U.S. markets, investors are keenly observing opportunities across various sectors. While penny stocks might seem like an outdated concept, they continue to represent intriguing prospects within the investment landscape. By focusing on companies with strong financials and growth potential, investors can uncover valuable opportunities in these smaller or newer enterprises.
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 | ★★★★☆☆ |
| LaserBond (ASX:LBL) | A$0.565 | A$66.23M | ★★★★★★ |
| Helloworld Travel (ASX:HLO) | A$2.03 | A$330.52M | ★★★★★★ |
| Austin Engineering (ASX:ANG) | A$0.54 | A$334.88M | ★★★★★☆ |
| MaxiPARTS (ASX:MXI) | A$1.76 | A$97.36M | ★★★★★★ |
| EZZ Life Science Holdings (ASX:EZZ) | A$2.41 | A$111.24M | ★★★★★★ |
| SHAPE Australia (ASX:SHA) | A$2.75 | A$228.01M | ★★★★★★ |
| Navigator Global Investments (ASX:NGI) | A$1.65 | A$808.63M | ★★★★★☆ |
| Vita Life Sciences (ASX:VLS) | A$2.03 | A$114.16M | ★★★★★★ |
| Servcorp (ASX:SRV) | A$4.87 | A$480.5M | ★★★★☆☆ |
Click here to see the full list of 1,044 stocks from our ASX Penny Stocks screener.
Let's dive into some prime choices out of the screener.
Indiana Resources
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: Indiana Resources Limited explores rare earth elements, gold, and base metals in Australia and has a market cap of A$69.95 million.
Operations: The company generates revenue from its exploration activities, amounting to A$0.21 million.
Market Cap: A$69.95M
Indiana Resources Limited, with a market cap of A$69.95 million, is pre-revenue and has been experiencing shareholder dilution with shares outstanding growing by 3.4% over the past year. The company is debt-free and its short-term assets of A$1.8 million cover both short-term liabilities of A$900K and long-term liabilities of A$22K. Despite being unprofitable, Indiana has reduced losses at 26.2% per year over five years but faces less than a year of cash runway if current free cash flow trends continue. Recently, it announced a special dividend payment scheduled for December 20, 2024.
Southern Cross Media Group
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: Southern Cross Media Group Limited, with a market cap of A$134.34 million, produces audio content for broadcast and digital networks in Australia.
Operations: The company's revenue is primarily derived from Broadcast Radio (A$366.62 million), followed by Television (A$97.49 million) and Digital Audio (A$35.03 million).