ASX Penny Stocks To Watch In August 2026

As Australia's reporting season gains momentum, the market's cautious stance is evident with ASX 200 futures indicating a slight dip, possibly influenced by geopolitical tensions in the Middle East. For investors eyeing opportunities in smaller or newer companies, penny stocks—despite their somewhat outdated name—remain a relevant investment area. By focusing on those with strong financial health and potential for growth, investors might uncover promising opportunities among these lesser-known stocks.

Here we highlight a subset of our preferred stocks from the screener.

Chalice Mining (ASX:CHN)

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

Overview: Chalice Mining Limited is a mineral exploration and evaluation company with a market cap of A$435.03 million.

Operations: Chalice Mining Limited does not report any specific revenue segments.

Market Cap: A$435.03M

Chalice Mining Limited, with a market cap of A$435.03 million, is a pre-revenue company generating less than US$1 million annually. Despite its unprofitability and increasing losses over the past five years, Chalice Mining's short-term assets significantly surpass both its short-term and long-term liabilities, providing financial stability. The company benefits from a substantial cash runway exceeding three years under current free cash flow conditions and remains debt-free for five years. Recent participation in multiple industry conferences indicates active engagement in the sector. However, profitability isn't anticipated within the next three years despite an expected revenue growth rate of 85% annually.

• Unlock comprehensive insights into our analysis of Chalice Mining stock in this financial health report.
• Gain insights into Chalice Mining's outlook and expected performance with our report on the company's earnings estimates.

Ora Banda Mining (ASX:OBM)

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

Overview: Ora Banda Mining Limited focuses on the exploration, operation, and development of mineral properties in Australia with a market cap of A$2.19 billion.

Operations: The company's revenue is derived from Gold Production and Exploration, amounting to A$554.15 million.

Market Cap: A$2.19B

Ora Banda Mining, with a market cap of A$2.19 billion, has demonstrated significant growth in its mineral resource base, notably increasing its Total Mineral Resource Estimate by 75% to 3.69 million ounces and Ore Reserves by 159% to 610 thousand ounces. The company is debt-free and boasts strong financials with short-term assets exceeding liabilities. Its earnings have grown substantially over the past year at a rate of 242.4%, outpacing industry averages. Despite high non-cash earnings levels, Ora Banda's management team remains experienced and committed to further exploration and development efforts in the Davyhurst Gold Project area.

• Dive into the specifics of Ora Banda Mining here with our thorough balance sheet health report.
• Learn about Ora Banda Mining's future growth trajectory here.

Smart Parking (ASX:SPZ)

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

Overview: Smart Parking Limited designs, develops, and manages parking management solutions across New Zealand, Australia, Denmark, Germany, and the United Kingdom with a market cap of A$294.88 million.

Operations: The company's revenue is derived from its Technology Division, which generated A$5.78 million, and its Parking Management operations in Denmark (A$1.14 million), Germany (A$4.61 million), New Zealand (A$8.19 million), and the United Kingdom (A$68.79 million).

Market Cap: A$294.88M

Smart Parking Limited, with a market cap of A$294.88 million, is trading significantly below its estimated fair value. The company has no debt and maintains strong financial health, with short-term assets exceeding liabilities. Although earnings have grown by 23.1% annually over the past five years, recent profit margins have declined from 8.8% to 5.4%. Despite this dip in profitability, analysts are optimistic about future growth prospects and anticipate a substantial rise in stock price. Recent board changes include the appointment of Simon Jones as an independent non-executive director, bringing extensive strategic expertise across various sectors to the company.

• Click to explore a detailed breakdown of our findings in Smart Parking's financial health report.
• Explore Smart Parking's analyst forecasts in our growth report.

Where To Now?

• Take a closer look at our ASX Penny Stocks list of 404 companies by clicking here.
• Seeking Other Investments? Rare earth metals are the new gold rush. Find out which 29 stocks are leading the charge.

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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