ASX penny shares to consider in November 2024

The Australian stock market is resilient, with the ASX200 up 1% at 8,405, nearing a record high, helped by positive Wall Street. In this context, penny stocks—often smaller or newer companies—continue to attract attention for their potential to provide growth opportunities. While these stocks are now considered niche, they can deliver significant returns if backed by strong financials and strategic positioning.

Name	Share price	Market capitalization	Financial Health Rating
Laserbond (ASX:LBL)	AUD 0.59	AUD 69.16 million	★★★★★★
Start learning early (ASX:EVO)	AUD 0.81	AUD 148.62 million	★★★★☆☆
Helloworld Travel (ASX:HLO)	2 US dollars	AUD 325.64 million	★★★★★★
SHAPE Australia (ASX:SHA)	AUD 2.88	AUD 238.78 million	★★★★★★
Austin Engineering (ASX:ANG)	AUD 0.54	AUD 334.88 million	★★★★★☆
MaxiPARTS (ASX:MXI)	AUD 1.89	AUD 104.55 million	★★★★★★
Navigator Global Investments (ASX:NGI)	AUD 1.65	AUD 808.63 million	★★★★★☆
GTN (ASX:GTN)	AUD 0.4475	AUD 87.7 million	★★★★★★
Atlas Pearl (ASX:ATP)	AUD 0.15	AUD 65.35 million	★★★★★★
Servcorp (ASX:SRV)	AUD 4.80	AUD 473.59 million	★★★★☆☆

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

We’re going to check out a few of the top picks selected using our screening tool.

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

Review: Aurora Energy Metals Limited is a mineral exploration company in the United States and has a market capitalization of A$10.92 million.

Operations: The company generates exploration revenue of A$0.11 million.

Market capitalization: AUD 10.92 million

Aurora Energy Metals Limited, with a market capitalization of A$10.92 million, is a pre-revenue mineral exploration company in the United States. Although it has no debt and no long-term liabilities, it faces financial challenges with cash growth in less than one year and losses increasing at 38.8% per year over the past five years. The company’s share price has been very volatile recently, reflecting increased weekly volatility from 18% to 26%. Recent earnings announcements showed a decline in net loss of A$2.36 million for the year ended June 2024, from A$5.66 million previously, indicating some improvement despite continued loss-making.

ASX:1AE income and expense breakdown as of November 2024

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

Review: Energy Metals Limited is an Australian uranium exploration company with a market capitalization of A$22.02 million.

Operations: The company’s income comes from uranium exploration and amounts to AUD 0.02 million.

Market capitalization: AUD 22.02 million

Energy Metals Limited, with a market capitalization of AU$22.02m, is an Australian uranium exploration company that has no revenue. It remains debt-free and boasts an ample cash reserve for more than three years, supported by short-term assets of A$12.9 million, which exceed both long-term and short-term liabilities. Despite its unprofitability, the company has cut losses by 2.2% per annum over five years and has maintained stable weekly volatility compared to most Australian shares. Recent earnings showed an increase in sales to A$0.02 million for the half year ended June 2024, but also reported a higher net loss of A$0.29 million compared to the same period last year, reflecting ongoing financial challenges amid volatility in stock prices.

Analysis of ASX:EME's financial position to November 2024 — Analysis of ASX:EME’s financial position to November 2024

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

Review: ReadyTech Holdings Limited provides technology solutions in Australia with a market capitalization of A$358.22 million.

Operations: The company generates revenue from three main segments: Workforce Solutions (A$30.74 million), Government and Justice (A$42.51 million) and Education and Work Opportunities (A$40.55 million).

Market capitalization: AUD 358.22 million

ReadyTech Holdings Limited, with a market capitalization of A$358.22 million, saw strong revenue growth across its segments: Workforce Solutions (A$30.74 million), Government & Justice (A$42.51 million) and Education & Employment Pathways ($40.55 million AUD). The company reported full-year sales of A$113.8 million, up from A$103.31 million the previous year, while net profit rose to A$5.46 million from A$4.98 million. Despite diluting shareholders by 2.9% last year, ReadyTech manages debt at a high level; Operating cash flow covers 75% of debt and interest payments are well covered by EBIT at three times coverage, reflecting financial strength amid industry challenges.

ASX:RDY History and analysis of debt to equity ratio as of November 2024.

Dive into all 1,046 ASX Penny shares we’ve identified here.
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This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts using only objective methodology, and our articles are not intended to provide financial advice. It is not a recommendation to buy or sell any stock and does not take into account your objectives or your financial situation. We strive to provide you with long-term, focused analysis based on fundamental data. Please note that our analysis may not factor in recent price-sensitive company announcements or qualitative content. Wall Street simply doesn’t have a position in any of the stocks mentioned.

Companies discussed in this article include ASX:1AE, ASX:EME and ASX:RDY.

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ASX penny shares to consider in November 2024

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