This article looks at the 12 Best Australian Stocks to Buy Right Now.
Australia’s S&P/ASX 200 index advanced 0.53% on Thursday to close at 8,873.80, with investors buoyed by gains in the banking sector, amid robust earnings and renewed hopes for further interest rate cuts.
Shares of Westpac Banking surged 6.31%, while Suncorp Group gained 3.64% and National Australia Bank advanced by 1.89%.
The bullish sentiment was also supported by the Australian Bureau of Statistics reporting a 0.1% decrease in unemployment in July, matching economists’ predictions, following a four-year high of 4.3% in June. Employment rose by 24,500 during the month, driven primarily by full-time roles.
With that said, let’s now discuss some of the best Australian stocks to buy right now.
Photo by Pascal Bernardon on Unsplash
Our Methodology
We went through screeners to identify Australian stocks that trade on U.S. exchanges. From there, we selected 12 stocks with the highest number of hedge fund holders, based on Insider Monkey’s database of 1,000 prominent hedge funds as of Q1 2025, and ranked them in ascending order. Where stocks were tied on hedge fund sentiment, we used their market caps as a tiebreaker.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
12. Incannex Healthcare Inc. (NASDAQ:IXHL)
Number of Hedge Fund Holders: 1
Incannex Healthcare Inc. (NASDAQ:IXHL) is among the 12 Best Australian Stocks to Buy Right Now. On August 8, the company announced positive new patient-reported outcomes from participants in its RePOSA Phase 2 trial of IHL-42X to treat obstructive sleep apnoea (OSA).
The new insights were collected through exit interviews, in line with FDA’s guidance on Patient-Focused Drug Development (PFDD). The results build on already compelling data to reinforce the potential of IHL-42X to improve sleep quality, cognitive function, and daily life.
Incannex Healthcare Inc. (NASDAQ:IXHL) said that 57.6% of the respondents reported an improvement in their OSA, of which 89.5% described it as a meaningful change to their lives. Some of the reported benefits include better sleep quality, reduced sleepiness during the daytime, feeling fresh in the morning, and other cognitive and daily-life improvements.
Joel Latham, President and CEO of Incannex Healthcare Inc. (NASDAQ:IXHL) stated the following on the findings:
“Our recent Phase 2 results for IHL-42X exceeded expectations. In some patients, we observed reductions in AHI of up to 83%, which is an extraordinary outcome and a powerful signal of the drug’s potential. We believe the findings from the patient exit interviews underscore that these improvements are not just clinical—they are translating into meaningful, positive changes in patients’ daily lives. This reinforces our belief that IHL-42X has the potential to significantly shift the treatment paradigm for OSA.”
Incannex Healthcare Inc. (NASDAQ:IXHL) is a clinical-stage pharmaceutical company developing medicines to treat chronic conditions, including obstructive sleep apnea, generalized anxiety disorder, and rheumatoid arthritis.
11. Nova Minerals Limited (NASDAQ:NVA)
Number of Hedge Fund Holders: 1
Nova Minerals Limited (NASDAQ:NVA) is among the 12 Best Australian Stocks to Buy Right Now. On August 7, the company shared findings from the Styx antimony ore sorting test work program, showing that an upgraded, saleable antimony ore concentrate can be
produced onsite for further processing.
The firm shared a conceptual flowsheet, demonstrating a clear path for onsite recovery and upgrading of antimony ore using ore sorting. The 500kg bulk ore sorting test work on the Styx sample also delivered encouraging results, from a single pass yielding a high antimony recovery of 60.3% in 26.1% of the mass. The grade was at 35.2% Sb, improving 2.3 times from the feed grade of 15.2% Sb.
Nova Minerals Limited (NASDAQ:NVA) also highlighted that test works revealed a gold recovery of 52.5%, upgrading the grade to 2.99 g/t Au from 1.90 g/t Au. This is a 57.4% increase, reflecting potential for synergy between antimony and gold processing circuits at the Estelle Project.
Moreover, with Western defense supply chains under pressure due to the current geopolitical situation, Nova Minerals Limited (NASDAQ:NVA)’s CEO, Christopher Gerteisen, believes discoveries at the Estelle Project could offer a potential strategic solution to the United States.
“In the current geopolitical environment, where Western defense supply chains are under immense pressure, we believe our Estelle Project stands out as a truly strategic asset. With Styx and Stibium now confirmed as high-grade, near-term development prospects, and U.S. government engagement well underway through our DIBC membership and DoD grant applications, Nova is fast-tracking a solution to the critical antimony supply gap. We are proud to lead the charge in re-establishing domestic production of this defense-essential mineral, and today’s results mark another key step toward potentially delivering a secure, U.S.-based supply chain — right here in Alaska.”
Nova Minerals Limited (NASDAQ:NVA) is a gold, antimony, and critical minerals exploration and development company.
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