3 ASX Penny Stocks With Market Caps Over A$40M

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The Australian share market is poised for a positive start today, with the ASX 200 expected to rise by up to 0.7%, buoyed by easing concerns over trade tariffs and geopolitical tensions. In this context, investors often seek out opportunities that offer both growth potential and affordability, making penny stocks an intriguing option despite their somewhat outdated label. These stocks typically belong to smaller or newer companies, and when they come with strong financial health, they can present valuable opportunities for those willing to explore them further.

Top 10 Penny Stocks In Australia

Name

Share Price

Market Cap

Financial Health Rating

Embark Early Education (ASX:EVO)

A$0.78

A$143.12M

★★★★☆☆

LaserBond (ASX:LBL)

A$0.57

A$66.82M

★★★★★★

Austin Engineering (ASX:ANG)

A$0.505

A$313.17M

★★★★★☆

MaxiPARTS (ASX:MXI)

A$1.90

A$105.1M

★★★★★★

GTN (ASX:GTN)

A$0.5425

A$106.53M

★★★★★★

Helloworld Travel (ASX:HLO)

A$2.02

A$328.89M

★★★★★★

SHAPE Australia (ASX:SHA)

A$3.00

A$248.73M

★★★★★★

IVE Group (ASX:IGL)

A$2.18

A$337.66M

★★★★☆☆

SKS Technologies Group (ASX:SKS)

A$1.59

A$243.19M

★★★★★★

Nickel Industries (ASX:NIC)

A$0.745

A$3.2B

★★★★★☆

Click here to see the full list of 1,031 stocks from our ASX Penny Stocks screener.

We'll examine a selection from our screener results.

Core Lithium

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

Overview: Core Lithium Ltd focuses on developing lithium and various metal deposits in Northern Territory and South Australia, with a market cap of A$197.16 million.

Operations: The company's revenue is derived entirely from the Finniss Lithium Project, generating A$189.49 million.

Market Cap: A$197.16M

Core Lithium Ltd, with a market cap of A$197.16 million, focuses on the Finniss Lithium Project as its primary revenue source, generating A$189.49 million. Despite being debt-free and having stable weekly volatility over the past year, Core Lithium remains unprofitable with losses increasing by 82.2% annually over five years and a negative return on equity of -80.59%. The company has sufficient short-term assets to cover liabilities but faces less than a year of cash runway based on current free cash flow trends. The management team is relatively new, with an average tenure of 0.8 years.

ASX:CXO Debt to Equity History and Analysis as at Feb 2025
ASX:CXO Debt to Equity History and Analysis as at Feb 2025

IPD Group

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

Overview: IPD Group Limited is an Australian company that distributes electrical infrastructure, with a market cap of A$432.40 million.

Operations: The company generates revenue from its Products Division, which accounts for A$270.68 million, and its Services Division, contributing A$19.74 million.