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Best growth stocks under $10 in Australia (2023)

We used Finder's proprietary algorithm to find the 10 best stocks under $10 on the ASX.

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Important note

There's no one stock or ETF that's 'best' for everyone. Instead, consider your own individual needs and investment strategy to decide what stock is right for you. Further, nobody can say for certain which direction a share will go as past performance is no guarantee of future results. So keep in mind these are stock ideas only and should not be taken as personal financial advice.

The current market volatility is creating new opportunities for investors. With share markets being off to their worst start since WW2 last year, many investors are being scared out of the market.

This is especially the case with smaller, less-established stocks. But that doesn't mean you should avoid this section of the market altogether. Instead, finding the hidden gem in a volatile market could help your portfolio outperform.

For some investors, that means identifying high quality stocks that fall below a certain price range. To help out, we've created a list of stocks to watch that are priced under $10.

What's the methodology behind our "best stocks under $10"?

To help identify stock picks for 2023 that are currently under $10, we used Finder's proprietary algorithm to filter Australian-listed companies that have strong fundamentals.

We take into account historical prices, dividends, revenue growth, (low) price volatility and profit margins, which might indicate a quality stock.

To avoid the more speculative stocks, we only include companies with a market cap of more than $1 billion. We filtered out stocks that have been listed on the ASX for less than 5 years to better compare historical data.

Again, this doesn't mean these are the best stocks for you or your personal situation. Always do your own research and chat with a professional when in doubt.


Investments can go up and down and we do not guarantee the performance or returns of any investment.

Stocks under $10 to watch

This list of stocks was last updated July 21, 2023.

Helia Group Limited (HLI.AU)

Helia Group Limited, together with its subsidiaries, engages in the loan mortgage insurance business in Australia. The company facilitates residential mortgage lending by transferring risk from lenders to lenders mortgage insurance (LMI) providers, primarily for high loan to value ratio residential mortgage loans; and portfolio of seasoned home loans.
  • Market cap: A$1.206 billion
  • YTD performance: 69.17%
  • 1-year performance: 57.37%
  • 5-year performance: 205.27%
  • P/E ratio: 4.54
  • Headquarters: Australia

Pilbara Minerals Limited (PLS.AU)

Pilbara Minerals Limited engages in the exploration, development, and operation of mineral resources in Australia. The company primarily explores for lithium.
  • Market cap: A$10.955 billion
  • YTD performance: 314.95%
  • 1-year performance: 4.04%
  • 5-year performance: 2389.66%
  • P/E ratio: 4.56
  • Headquarters: Australia

Emerald Resources NL (EMR.AU)

Emerald Resources NL engages in the exploration and development of mineral reserves in Cambodia and Australia. The company's exploration tenements include a combination of 100% owned granted licenses, applications, and earn-in and joint venture agreements covering a combined area of 1,239 square kilometers.
  • Market cap: A$1.538 billion
  • YTD performance: 202.86%
  • 1-year performance: 134.52%
  • 5-year performance: 9364.29%
  • P/E ratio: 22.13
  • Headquarters: Australia

Bellevue Gold Ltd (BGL.AU)

Bellevue Gold Limited, together with its subsidiaries, engages in the exploration and evaluation of gold properties in Australia. It holds a 100% interest in the Bellevue gold project covering an area of approximately 2,700 km2 located to north-west of Kalgoorlie, Western Australia.
  • Market cap: A$1.85 billion
  • YTD performance: 45.99%
  • 1-year performance: 65.99%
  • 5-year performance: 436.07%
  • Headquarters: Australia

Karoon Gas Australia (KAR.AU)

Karoon Energy Ltd operates as an oil and gas exploration and production company in Australia and Brazil. It holds 100% interest in the Santos Basin located in the State of Sáo Paulo, Brazil.
  • Market cap: A$1.609 billion
  • YTD performance: 93.49%
  • 1-year performance: 8.91%
  • 5-year performance: 494.29%
  • P/E ratio: 4.87
  • Headquarters: Australia

Gold Road Resources (GOR.AU)

Gold Road Resources Limited, together with its subsidiaries, engages in the exploration and development of mineral properties in Western Australia. The company primarily explores for gold deposits.
  • Market cap: A$1.949 billion
  • YTD performance: 42.86%
  • 1-year performance: 36.7%
  • 5-year performance: 219.33%
  • P/E ratio: 25.28
  • Headquarters: Australia

Chalice Gold Mines (CHN.AU)

Chalice Mining Limited operates as a mineral exploration and evaluation company. The company explores for gold, copper, cobalt, palladium, platinum, and nickel deposits.
  • Market cap: A$569.832 million
  • YTD performance: -62%
  • 1-year performance: 3.76%
  • 5-year performance: 1281.82%
  • Headquarters: Australia

Infratil (IFT.AU)

Infratil Limited owns and operates infrastructure businesses, and investments primarily in New Zealand, Australia, the United States, Asia, the United Kingdom, and Europe. The company generates and supplies electricity.
  • Market cap: A$7.629 billion
  • YTD performance: 33.63%
  • 1-year performance: 20.37%
  • 5-year performance: 180.25%
  • P/E ratio: 5.23
  • Headquarters: Australia

Latin Resources Ltd (LRS.AU)

Latin Resources Limited engages in the exploration and evaluation of mining projects in Australia, Brazil, Peru, and Argentina. The company primarily explores for lithium, silver, lead, copper, and gold deposits.
  • Market cap: A$512.914 million
  • YTD performance: 430.31%
  • 1-year performance: 90.22%
  • 5-year performance: 17400%
  • Headquarters: Australia

New Hope Corporation Limited (NHC.AU)

New Hope Corporation Limited explores for, develops, produces, and processes coal, and oil and gas properties. It operates through three segments: Coal Mining in Queensland, Coal Mining in New South Wales, and Other.
  • Market cap: A$4.557 billion
  • YTD performance: 273.43%
  • 1-year performance: 15.34%
  • 5-year performance: 408.58%
  • P/E ratio: 4.28
  • Headquarters: Australia

Buy stocks under $10 through an online broker

1 - 6 of 6
Name Product Price per trade Inactivity fee Asset class International
Finder AwardExclusive
US$10 per month if there’s been no log-in for 12 months
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CMC Markets Invest
ASX shares, Global shares, Options trading, US shares, mFunds, ETFs
Special offer: Transfer your international stocks to CMC Invest and receive $100 credit on your trading account until Nov 30, 2023 (T&Cs apply).
Trade up to 35,000 products, including shares, ETFs and managed funds, plus access up to 15 major global and Australian stock exchanges. Plus, buy Aussie shares for $0 brokerage up to $1,000. (Limited to one buy order per stock per trading day).
Moomoo Share Trading
ASX shares, Global shares, US shares, ETFs
Finder exclusive: Get an additional 30 days on top of the regular brokerage-free period for new accounts (see link for details). T&Cs apply.
Trade shares on the ASX, the US markets and buy ETFs with Moomoo. Plus join a community over 18 million investors.
Tiger Brokers
ASX shares, Global shares, US shares, ETFs
Finder exclusive: Get 15 commission-free trades on US or ASX equities for the first 180 days and US$50 fractional shares when you deposit at least $500. Plus, all new customers get 1 free trade per month for the first 12 months (T&Cs apply).
Get one brokerage-free trade per month for the first 12 months for US or ASX markets. T&Cs apply.
ASX shares, Options trading, US shares, ETFs
Fund your new account with $500 and place 1 trade to get $100 in free rewards until November 30, 2023. Plus, earn up to 5.2% p.a. interest on your US cash account (T&Cs apply).
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IG Share Trading
Finder Award
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$0 brokerage for US and global shares plus get an active trader discount of $5 commission on Australian shares.
Enjoy some of the lowest brokerage fees on the market when trading Australian and international shares, plus get access to 24-hour customer support.

Important: The standard brokerage fee displayed is the trade cost for new customers to purchase $1,000 of either Australian or US shares. Where a platform charges different fees for both US and Australian shares we show the lower of the two. Where both CHESS sponsored and custodian shares are offered, we display the cheapest option.

Should I buy stocks under $10?

It really depends on the business and your own personal circumstances.

It's important to remember that a lower priced stock doesn't necessarily mean it's 'cheap' or a 'good deal'.

By that same token, you shouldn't just assume a higher priced stock is a better buy than a lower priced stock. This isn't always the case.

Generally speaking, stocks have a higher price for 2 reasons:

  1. They are older, more established businesses
  2. They are currently popular

While there's nothing wrong with buying more established businesses, it may mean it's harder for prices to keep growing.

After all, in an efficient market, long-term share price growth reflects earnings growth. If the share price is already pricing in strong earnings growth, there's nowhere to go.

On the flipside, finding the right share under $10 could mean it is smaller but has a greater opportunity to grow. It could even take market share from the larger incumbents.

It is also not always the case that a smaller company based on its share price is in a worse position financially than larger businesses. In some instances, it is simply the market mispricing a business. Once again, though, it is important to find the right smaller company.

What to look for in stocks under $10

Regardless of what you are looking to buy, you should follow some basic pricing models to work out whether or not a share is "fair value".

After all, when buying shares, you're investing your hard-earned money into a business that you hope will grow, so you should have a basic understanding of what you own and why you own it.

Most investors use pricing models to work out roughly what the fair value of a share could be. It's important to remember each of these have their own limitations and few businesses will tick every single key metric.

And even if the business did, it does not guarantee the share price will rise.

But here are few tips you can look out for:

  • Earnings per share (EPS): EPS is calculated by dividing company profits by the outstanding shares of common stocks. The valuation should give you an indication of a company's profits.
  • Price to earnings ratio (P/E ratio): In short, the price to earnings for stock is how much the market is willing to pay today for a stock's past or future earnings. It is done by dividing a company's share price by its annual earnings per share. If, for example, a company is priced at $10 per share and its earnings per share is $1, then the P/E ratio would be 10/1 = 10. Theoretically, a lower P/E ratio means the company is cheap.
  • Price to sales (P/S): P/S is calculated for businesses that are not yet profitable. It is calculated by dividing the number of outstanding shares by the total sales or revenue over the last 12 months. The lower the P/S ratio, the more attractive the investment.
  • Profitability ratios: Not all businesses need to be profitable today to make for a good investment. But they need to have a path towards profitability. When measuring profitability, investors can use gross profits, operating profits, net profits, cash flow or even earnings before interest, taxes, and depreciation and amortisation (EBITDA).
  • Debt ratio: This is especially important in a rising interest rate world. It is worked out by dividing the total debt by total assets. A debt ratio of greater than 1 suggests the company has more debt than its assets.

Risks for investing in shares under $10

Buying shares always comes with some form of risk and you should never invest money that you might need over a short period of time.

And when buying stocks under $10, these risks may be magnified.

This is due to the size of the stock. Being smaller and having fewer shares on offer, it takes less volume to move a price. For smaller, less liquid stocks, at times a single trade can meaningfully impact the business's share price.

Here are the basic risks of share trading:

Volatility - The price of shares constantly fluctuates. With smaller shares, the price can dramatically fall, meaning investors lose their capital. Shares can even go to zero.

Unexpected events - Unfortunately, even the most well-thought-out plans come with risk. Company-specific bad news, changing economies and "black swan events" can all impact a share price. Just look at COVID-19, few predicted how the business landscape would change.

Not knowing what you own - Every share listed will have a story and will try to convince you to invest in them. Not knowing what you own or why you own it is a risk for investors.

Opportunity cost - Most of us have to make choices with our money. Choosing a stock that underperforms also has an opportunity cost attached with it. This is because we have missed out on buying a better performing stock.

Liquidity risk - Liquidity is the ease of which you can convert assets to cash. While stocks and bonds are usually liquid, in smaller shares they can be more illiquid. As such, you might have to accept a lower price in order to sell the asset quickly.

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades. Read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for the product on the provider's website.

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