ASX penny stocks to watch in October 2024

Operations: The company’s revenue generates two main segments: export with a turnover of NZ$340.55 million and domestic with a contribution of NZ$133.38 million.

Market capitalization: A$144.48 million

Bathurst Resources Limited operates in the coal sector with a market capitalization of A$144.48 million and generates significant revenues from exports (NZ$340.55 million) and domestic markets (NZ$133.38 million). The company reported a decline in net profit to NZ$38.55 million from NZ$90.49 million a year earlier, reflecting negative profit growth of 57.4%. Still, Bathurst remains debt-free and offers a low price-to-earnings ratio of 4.1x compared to the Australian market average of 19.6x, indicating potential value for investors seeking exposure to penny stocks without much concern about leverage.

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

Overview: Cue Energy Resources Limited is an oil and gas company engaged in the exploration, development and production of petroleum products with a market capitalization of A$73.36 million.

Operations: Cue Energy Resources generates revenues of A$49.66 million from its hydrocarbon production and exploration activities.

Market capitalization: A$73.36 million

Cue Energy Resources, with a market cap of A$73.36 million, is debt-free and trading well below its estimated fair value. The company reported stable production levels despite disruptions, generating revenue of A$49.66 million in fiscal 2024. Although earnings growth was negative at -6.7%, it outpaced the overall industry decline. Cue’s return on equity is a high 21.9% and its current assets significantly exceed its liabilities, although its long-term liabilities are still not covered by current assets alone. Despite an unstable dividend record, the company declared a final dividend of A$0.01 per share for the period ending June 2024.

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

Companies covered in this article include ASX:AGE, ASX:BRL and ASX:CUE.

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