AMCIL And 2 Other ASX Penny Stocks Worth Watching

The Australian market is showing resilience, with the ASX 200 futures indicating a slight gain despite contrasting movements in the U.S. markets due to differing economic indicators and ongoing reporting season activities. In this context, penny stocks, though often overlooked, can present unique opportunities for investors seeking potential growth in smaller or newer companies. These stocks may offer compelling prospects when supported by strong financial fundamentals, making them worth considering amidst current market dynamics.

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$0.575	A$67.47M	★★★★★★
EZZ Life Science Holdings (ASX:EZZ)	A$1.83	A$86.33M	★★★★★★
Austin Engineering (ASX:ANG)	A$0.475	A$294.57M	★★★★★☆
IVE Group (ASX:IGL)	A$2.21	A$342.3M	★★★★☆☆
SHAPE Australia (ASX:SHA)	A$3.04	A$252.05M	★★★★★★
Bisalloy Steel Group (ASX:BIS)	A$3.51	A$168.14M	★★★★★★
Dusk Group (ASX:DSK)	A$1.05	A$65.38M	★★★★★★
GTN (ASX:GTN)	A$0.54	A$106.04M	★★★★★★
MaxiPARTS (ASX:MXI)	A$1.86	A$102.89M	★★★★★★

Click here to see the full list of 1,030 stocks from our ASX Penny Stocks screener.

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

AMCIL (ASX:AMH)

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

Overview: Amcil Limited is a publicly owned investment manager with a market cap of A$365.80 million.

Operations: The company's revenue segment consists solely of investments, amounting to A$9.74 million.

Market Cap: A$365.8M

AMCIL Limited, with a market cap of A$365.80 million, operates without debt and maintains high-quality earnings despite recent negative growth of -7.5%. The company's board and management team are experienced, contributing to stable weekly volatility at 1%. However, its Return on Equity is low at 1.9%, and short-term assets (A$12.3M) do not cover long-term liabilities (A$49.8M). Recent earnings showed a decline in revenue to A$4.82 million from A$5.21 million the previous year, with net income also decreasing to A$3.57 million. Dividends remain consistent but are not well covered by earnings or free cash flow.

• Navigate through the intricacies of AMCIL with our comprehensive balance sheet health report here.
• Evaluate AMCIL's historical performance by accessing our past performance report.

Emeco Holdings (ASX:EHL)

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

Overview: Emeco Holdings Limited offers surface and underground mining equipment rental, complementary equipment, and mining services in Australia, with a market cap of A$501.48 million.

Operations: The company's revenue is derived from three main segments: Rental (A$544.75 million), Workshops (A$282.41 million), and Pit N Portal (A$111.77 million).

Market Cap: A$501.48M

Emeco Holdings, with a market cap of A$501.48 million, exhibits strong financial health in the penny stock sector. Its short-term assets (A$294.0M) exceed short-term liabilities (A$195.8M), and debt levels have significantly improved over five years, with a current net debt to equity ratio of 32%. Earnings have grown by 27.4% over the past year, outpacing industry averages and highlighting robust profit growth acceleration compared to its five-year average of 2.9%. However, challenges remain as short-term assets do not cover long-term liabilities (A$341.7M), and Return on Equity is low at 8.3%.

• Click to explore a detailed breakdown of our findings in Emeco Holdings' financial health report.
• Learn about Emeco Holdings' future growth trajectory here.

Tribune Resources (ASX:TBR)

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

Overview: Tribune Resources Limited, with a market cap of A$254.47 million, is involved in the development, exploration, and production of mineral properties in Australia.

Operations: The company generates revenue of A$107.94 million from its mining and exploration operations.

Market Cap: A$254.47M

Tribune Resources, with a market cap of A$254.47 million, shows a mixed financial picture within the penny stock realm. The company is debt-free and has not diluted shareholders recently, suggesting financial stability. Its short-term assets (A$218.8M) comfortably cover both short-term (A$18.2M) and long-term liabilities (A$8.6M). Earnings have surged by 729% over the past year despite declining by 41.9% annually over five years, indicating recent recovery potential but historical volatility. The dividend yield of 4.12% isn't well-supported by earnings, and Return on Equity remains low at 2.8%. Recent buyback plan extensions may influence investor sentiment positively.

• Dive into the specifics of Tribune Resources here with our thorough balance sheet health report.
• Assess Tribune Resources' previous results with our detailed historical performance reports.

Turning Ideas Into Actions

• Get an in-depth perspective on all 1,030 ASX Penny Stocks by using our screener here.
• Got skin in the game with these stocks? Elevate how you manage them by using Simply Wall St's portfolio, where intuitive tools await to help optimize your investment outcomes.
• Maximize your investment potential with Simply Wall St, the comprehensive app that offers global market insights for free.

Ready To Venture Into Other Investment Styles?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
• Jump on the AI train with fast growing tech companies forging a new era of innovation.
• Find companies with promising cash flow potential yet trading below their fair value.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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