Good Afternoon and welcome to HotCopper’s Market Close for Thursday 18th of September, I’m Jon Davidson. We got the US Fed rate cut as expected overnight but it wasn’t a boon for the ASX, which instead went back to the 8,700s. Clearly the September rule remains true down under, but at least this way we might actually have a Santa Rally this year – something absent in the silly season last year. As investors navigate these market fluctuations, penny stocks—though an outdated term—remain an intriguing area for those seeking growth potential in smaller or newer companies. Despite their vintage label, these stocks can offer surprising value when backed by strong financial health and stability. In this article, we explore three such penny stocks that could present compelling opportunities with less risk than one might expect.
Top 10 Penny Stocks In Australia
| Name | Share Price | Market Cap | Rewards & Risks |
| Alfabs Australia (ASX:AAL) | A$0.505 | A$144.73M | ✅ 4 ⚠️ 3 View Analysis > |
| EZZ Life Science Holdings (ASX:EZZ) | A$2.18 | A$102.84M | ✅ 3 ⚠️ 2 View Analysis > |
| Dusk Group (ASX:DSK) | A$0.82 | A$51.06M | ✅ 4 ⚠️ 2 View Analysis > |
| IVE Group (ASX:IGL) | A$2.69 | A$415.94M | ✅ 4 ⚠️ 3 View Analysis > |
| MotorCycle Holdings (ASX:MTO) | A$3.41 | A$251.68M | ✅ 4 ⚠️ 2 View Analysis > |
| Pureprofile (ASX:PPL) | A$0.043 | A$50.3M | ✅ 3 ⚠️ 1 View Analysis > |
| West African Resources (ASX:WAF) | A$3.04 | A$3.47B | ✅ 4 ⚠️ 1 View Analysis > |
| Praemium (ASX:PPS) | A$0.79 | A$377.39M | ✅ 5 ⚠️ 2 View Analysis > |
| Service Stream (ASX:SSM) | A$2.34 | A$1.43B | ✅ 3 ⚠️ 1 View Analysis > |
| Fleetwood (ASX:FWD) | A$3.00 | A$277M | ✅ 3 ⚠️ 2 View Analysis > |
Click here to see the full list of 431 stocks from our ASX Penny Stocks screener.
Let's explore several standout options from the results in the screener.
Berkeley Energia (ASX:BKY)
Simply Wall St Financial Health Rating: ★★★★★★
Overview: Berkeley Energia Limited is involved in the exploration and development of mineral properties in Spain, with a market cap of A$256.33 million.
Operations: Currently, there are no reported revenue segments for the company.
Market Cap: A$256.33M
Berkeley Energia Limited, with a market cap of A$256.33 million, is pre-revenue and reported a net loss of A$5.43 million for the year ended June 30, 2025. Despite being unprofitable, the company boasts a seasoned management team and board with average tenures of 9.9 and 13.4 years respectively. The company's financial position is robust with short-term assets significantly exceeding liabilities and no debt on its balance sheet. Additionally, Berkeley has not diluted shareholders recently and maintains sufficient cash runway for over three years based on current free cash flow levels.
- Click here to discover the nuances of Berkeley Energia with our detailed analytical financial health report.
- Assess Berkeley Energia's previous results with our detailed historical performance reports.
Carnegie Clean Energy (ASX:CCE)
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: Carnegie Clean Energy Limited focuses on developing the CETO Wave Energy Technology, a submerged wave energy converter that transforms ocean waves into zero-emission electricity, with a market cap of A$69.58 million.
Operations: The company generates revenue from its Electronic Components & Parts segment, amounting to A$0.32 million.
Market Cap: A$69.58M
Carnegie Clean Energy Limited, with a market cap of A$69.58 million, is pre-revenue and focuses on its CETO Wave Energy Technology. Despite being unprofitable, the company has a sufficient cash runway for over three years due to positive free cash flow growth. However, short-term assets (A$4.1 million) fall short of covering short-term liabilities (A$5.4 million). Recent follow-on equity offerings raised approximately A$8.38 million in total, potentially aiding financial stability but also indicating reliance on equity financing. The board is experienced with an average tenure of 12.8 years, although management tenure data is insufficient for assessment.
- Click here and access our complete financial health analysis report to understand the dynamics of Carnegie Clean Energy.
- Understand Carnegie Clean Energy's track record by examining our performance history report.
MFF Capital Investments (ASX:MFF)
Simply Wall St Financial Health Rating: ★★★★★★
Overview: MFF Capital Investments Limited is an investment firm manager with a market capitalization of A$2.84 billion.
Operations: The company generates revenue primarily from its equity investments, totaling A$631.43 million.
Market Cap: A$2.84B
MFF Capital Investments, with a market cap of A$2.84 billion, maintains financial stability by being debt-free and having short-term assets (A$2.9 billion) that surpass both short-term (A$19.2 million) and long-term liabilities (A$492.2 million). Despite a slight decline in revenue to A$632.85 million for the year ended June 2025, it offers a reliable dividend yield of 3.72%. Recent executive changes include Kirsten Morton as CFO and Matthew Githens as Chief Risk Officer, potentially strengthening its leadership team amid negative earnings growth over the past year (-3.4%). The board's average tenure is 6.3 years, indicating experience.
- Dive into the specifics of MFF Capital Investments here with our thorough balance sheet health report.
- Learn about MFF Capital Investments' historical performance here.
Where To Now?
- Discover the full array of 431 ASX Penny Stocks right here.
- Seeking Other Investments? AI is about to change healthcare. These 31 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early.
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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