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.
10. Alterity Therapeutics Limited (NASDAQ:ATHE)
Number of Hedge Fund Holders: 1
Alterity Therapeutics Limited (NASDAQ:ATHE) is among the 12 Best Australian Stocks to Buy Right Now. The company recently reported positive topline data from an open-label Phase 2 clinical trial of ATH434-202 in individuals with multiple system atrophy (MSA).
The trial involved evaluating patients with more advanced disease than studied earlier in the double-blind Phase 2 trial ATH434-201. The oral drug demonstrated a clinical benefit in areas of impairment in multiple system atrophy, while also stabilizing biomarkers that underpin the pathology of the disease.
In a press release shared on July 28, Alterity Therapeutics Limited (NASDAQ:ATHE) said that the open-label study featured 10 participants who were diagnosed with the disease. They were treated with 75 mg of ATH434 twice daily for 12 months. At the conclusion of the trial, investigators observed an increase in mean (SD) UMSARS scores increased by 3.5 (4.7) points. The findings compared favorably to a prior study on a similar MSA population.
Moreover, about 43% of the patients who completed the trial were reported to have stable UMSARS scores, while 30% of the participants had stable neurological symptoms during the course of the trials.
David Stamler, M.D., Chief Executive Officer of Alterity Therapeutics Limited (NASDAQ:ATHE) shared the following remarks on the results:
“I am very encouraged by the positive results from the ATH434-202 trial, as they reinforce the robust efficacy we observed in our double-blind study. The data from our Phase 2 studies are consistent and strongly support advancing our ATH434 program in MSA. With the favorable clinical and biomarker outcomes we have seen, we continue to believe that ATH434 has the potential to slow the progression of this devastating disease. We are committed to bringing this new therapy to patients as soon as possible.”
Alterity Therapeutics Limited (NASDAQ:ATHE) is a clinical-stage biotechnology company developing treatments for patients with neurodegenerative diseases.
9. NOVONIX Limited (NASDAQ:NVX)
Number of Hedge Fund Holders: 1
NOVONIX Limited (NASDAQ:NVX) is among the 12 Best Australian Stocks to Buy Right Now. Earlier this month, the firm, along with Lithium Energy Limited, decided not to proceed with the IPO of Axon Graphite, citing unfavorable market conditions.
In April 2024, the two companies entered into a Share Sale and Purchase Agreement (Mt Dromedary SPA) for Lithium Energy to acquire the Mt Dromedary Graphite Deposit in Queensland. Both firms had chalked out a plan to spin out their consolidated high-grade graphite assets through an IPO by Axon Graphite.
However, due to current market conditions, they have decided not to go ahead with completion under the Mt Dromedary SPA. NOVONIX Limited (NASDAQ:NVX) says that it is now reviewing strategies on how to maximize shareholder value from the asset. The company’s two nominees have also stepped down as Directors of Axon Graphite.
NOVONIX Limited (NASDAQ:NVX) is a leading Australian battery materials and technology company. It has a market cap of over $210 million, as of the close of business on August 14.
8. Locafy Limited (NASDAQ:LCFY)
Number of Hedge Fund Holders: 2
Locafy Limited (NASDAQ:LCFY) is among the 12 Best Australian Stocks to Buy Right Now, based on hedge fund sentiment. However, 2025 has been a challenging year for the stock, with its shares declining 34% year-to-date, as of August 14.
Last month, the company received a non-compliance notice from NASDAQ over not filing Form 6-K containing an interim income statement and balance sheet for its second quarter of fiscal 2025, which ended December 31, 2024. While the notice has no immediate effect on the stock’s listing or trading, Locafy Limited (NASDAQ:LCFY) has until September 1, 2025, to submit a plan on regaining compliance.
Locafy Limited (NASDAQ:LCFY) last reported financial results for the quarter ended September 30, 2024, posting a 27.8% decline in total operating revenue and a net loss of AUD 55,000. The company’s current ratio stood at 0.92, reflecting potential challenges in meeting short-term obligations.
Despite what appears to be a difficult situation, it is not all gloom for Locafy Limited (NASDAQ:LCFY). The global SEO software market is projected to grow at a CAGR of 13.5% between 2024 and 2030, which could prove to be a tailwind, boosting the company’s revenue.
The news of a strategic partnership with a leading American reputation platform in June this year was also well-received by investors, resulting in a significant surge in its share price.
Locafy Limited (NASDAQ:LCFY) is a software-as-a-service technology company having expertise in local search engine marketing.
7. Radiopharm Theranostics Limited (NASDAQ:RADX)
Number of Hedge Fund Holders: 2
Radiopharm Theranostics Limited (NASDAQ:RADX) is among the 12 Best Australian Stocks to Buy Right Now. The company recently announced receiving Investigational New Drug (IND) approval from the FDA to begin a Phase 1 therapeutic clinical study to target B7H3 with Betabart (RV-01).
The Lu-177-B7H3 monoclonal antibody is the first in class targeted radiopharmaceutical that is being developed against the 4lg type of B7H3. Radiopharm Theranostics Limited (NASDAQ:RADX) believes it has the potential to become a highly differentiated drug for treating individuals with aggressive solid tumors. The company says it is on track to initiate the first-in-human study during the fourth quarter of this calendar year.
Findings from recent preclinical studies have shown that RV-01 exhibits hepatic clearance, which allows the isotope enough time to target tumors, while also potentially reducing adverse effects such as hematological toxicities. Moreover, these monoclonal antibodies are cleared by the liver, unlike peptides and small molecules. This, coupled with the shortened half-life of RV-01, makes this agent stand out compared to other monoclonal antibodies and targeted radiotherapeutics with a renal excretion pathway.
Radiopharm Theranostics Limited (NASDAQ:RADX) is an Australia-based clinical-stage radiotherapeutics firm developing innovative radiopharmaceutical products for therapeutic and diagnostic applications in areas of high unmet medical need.
6. Immutep Limited (NASDAQ:IMMP)
Number of Hedge Fund Holders: 2
Immutep Limited (NASDAQ:IMMP) is among the 12 Best Australian Stocks to Buy Right Now. On August 5, the company shared that it had received positive feedback from the U.S. FDA on the future clinical development of eftilagimod alfa (efti) for first-line treatment of head and neck squamous cell carcinoma patients with CPS <1.
The feedback stems from encouraging data from the TACTI-003 Phase 2b trial evaluating efti with MSD’s anti-PD-1 KEYTRUDA (pembrolizumab). Immutep Limited (NASDAQ:IMMP) said that the FDA acknowledged the potential of the combination to address the high unmet need in patients with CPS <1 and supports its further development.
Marc Voigt, CEO of Immutep Limited (NASDAQ:IMMP), shared the following remarks on the development:
“We are pleased with the FDA’s feedback and guidance that underscores the high unmet need of head and neck cancer patients whose PD-L1 expression level is below one. The FDA feedback positions Immutep to evaluate options for future collaborative clinical development paths to bring a new, effective and safe treatment option to this underserved patient population.”
Looking ahead, Immutep Limited (NASDAQ:IMMP) also outlined paths for future clinical development. This would include a randomised registrational trial evaluating the combination against standard-of-care therapy, or lead a smaller single-arm study on about 70-90 patients, followed by a confirmatory randomised study building on the existing findings.
5. Tamboran Resources Corporation (NYSE:TBN)
Number of Hedge Fund Holders: 3
Tamboran Resources Corporation (NYSE:TBN) is among the 12 Best Australian Stocks to Buy Right Now. According to reports on Sky News, the company has secured a vital agreement with Native Title Holders and Northern Land Council (NLC) to sell appraisal gas from its Shenandoah South Pilot in the Beetaloo Basin.
The gas field, located about 500 km south of Darwin, is roughly the size of Belgium. Analysts believe the historic agreement is expected to help meet Australia’s domestic energy needs for well over 200 years.
The NLC has described the deal with Tamboran Resources Corporation (NYSE:TBN) as significant for economic growth in the Northern Territory and added that it would help administer the agreement to ensure the company meets its obligations.
“The NLC supports the native title holders’ decision to negotiate with Tamboran and supports the outcomes of the negotiations. This agreement means jobs and money for native title holders. The NLC will continue to help to administer the agreement on behalf of native title holders to make sure Tamboran meets its obligations in the Agreement.”
Tamboran Resources Corporation (NYSE:TBN) is a natural gas company focused on the development of unconventional gas resources in Australia’s Northern Territory.
4. Mesoblast Limited (NASDAQ:MESO)
Number of Hedge Fund Holders: 6
Mesoblast Limited (NASDAQ:MESO) is among the 12 Best Australian Stocks to Buy Right Now. On August 5, Canaccord Genuity initiated coverage of the stock with a Buy rating and announced a price target of AUD 2.97 ($1.94) per share, with analyst Elyse Shapiro citing the company’s promising cell therapy platform.
The firm acknowledged Mesoblast Limited (NASDAQ:MESO)’s expertise in allogeneic therapies for severe inflammatory diseases, which use cells from a single donor, instead of requiring cells from the recipient or matched donors. Canaccord also highlighted the company’s progenitor cell and mesenchymal stromal cell approach that reduces harmful inflammation by modulating the immune system.
In other recent news, on July 17, Mesoblast Limited (NASDAQ:MESO) announced USD 13.2 million in gross revenue from Ryoncil sales post-launch. The drug is the first and only mesenchymal stromal cell product in the U.S. that is approved by the FDA. It became commercially available on March 28, 2025, for the treatment of steroid-refractory acute graft-versus-host disease in children.
Mesoblast Limited (NASDAQ:MESO) is an Australian company focused on developing allogeneic cellular medicines to treat severe and life-threatening inflammatory conditions.
3. Woodside Energy Group Ltd (NYSE:WDS)
Number of Hedge Fund Holders: 14
Woodside Energy Group Ltd (NYSE:WDS) is among the 12 Best Australian Stocks to Buy Right Now. The company recently announced to extend its collaboration with the WA Museum and Foundation for the WA Museum to continue targeted research along the Gascoyne coastline for another five years.
For the past 28 years, the firm has supported the WA Museum in marine biodiversity research off the Western Australian coast, including in the Dampier Archipelago. This collaboration has aided in the discovery of numerous new species and in increasing the understanding of Western Australia’s marine environment.
The partnership’s extension is likely to offer new insights into marine conservation and lead to the discovery of many new species. According to Woodside Energy Group Ltd (NYSE:WDS)’s press release, dated August 6, the first phase will focus on examining legacy material held in the WA Museum’s collections, which will allow the research team to assess existing collections, address knowledge gaps, and identify key focus areas for studies and fieldwork ahead.
Woodside Energy Group Ltd (NYSE:WDS)’s CEO Meg O’Neill shared the following remarks on the collaboration:
“Our decades-long collaboration with the WA Museum has helped deepen the understanding of Western Australia’s unique marine ecosystems. The research supports conservation efforts and the sharing of knowledge with communities, governments and regulators. This renewed collaboration reaffirms Woodside’s commitment to responsible environmental management and the ongoing discovery of WA’s unique marine biodiversity.”
Woodside Energy Group Ltd (NYSE:WDS) is a global energy company. The stock has had impressive returns in 2025, gaining 13% year-to-date as of the close of business on August 14.
2. IREN Limited (NASDAQ:IREN)
Number of Hedge Fund Holders: 28
IREN Limited (NASDAQ:IREN) is among the 12 Best Australian Stocks to Buy Right Now. The stock has had a stellar 2025, with year-to-date gains of 94%, as of the close of business on August 14.
The wave has been fueled by impressive financial performance. IREN Limited (NASDAQ:IREN) in May posted a record revenue of $148.1 million during the third quarter of fiscal 2025, along with a 28% sequential increase in profit after tax. The robust results were driven by the company’s focus on large-scale data center sites, which are driving strong growth and margins.
The momentum has continued with the recent announcement of record monthly revenue and hardware profit for July, with a 17% increase in bitcoins mined and upgrades in AI cloud, bolstering bullish sentiment.
Expansion projects have also thrilled investors, such as the $130 million purchase of 2.4k next-generation Blackwell B200 and B300 GPUs from NVIDIA last month.
IREN Limited (NASDAQ:IREN) owns and operates data centers powering the future of Bitcoin and artificial intelligence using renewable energy. Wall Street analysts maintain a positive outlook for the stock, with a consensus Buy rating and an average share price upside potential of 16.8%.
1. BHP Group Limited (NYSE:BHP)
Number of Hedge Fund Holders: 31
BHP Group Limited (NYSE:BHP) is among the 12 Best Australian Stocks to Buy Right Now. On August 11, the company announced that it would be part of an industry consortium to assess the development of Carbon Capture, Utilisation and Storage (CCUS) hubs across Asia.
The consortium will comprise leading steelmakers, including ArcelorMittal Nippon Steel India, Hyundai Steel Company, JSW Steel, and value chain players BHP Group Limited (NYSE:BHP), Chevron, and Mitsui & Co., Ltd. The first of its kind industry-led study in Asia will investigate the commercial and technical pathways to utilising CCUS in hard-to-abate sectors across the continent.
According to BHP Group Limited (NYSE:BHP)’s press release, the research will focus on the potential for large-scale projects that could store or repurpose captured CO2. The study will also seek applications for the use of captured CO2 in industrial processes or its transportation to Asia or Northern Australia through pipeline or shipping.
The research will conclude in 2026 and is open to additional members wanting to join and contribute to the study. Dr Ben Ellis, Vice President of Marketing Sustainability at BHP Group Limited (NYSE:BHP) shared the following remarks on the announcement of the consortium:
“BHP is committed to supporting our steelmaking customers on their journey to decarbonise the industry.With more than 1 billion tonnes of production a year in Asia coming from blast furnace capacity that is relatively early in its production life, it’s important for industry to progress technologies to decarbonise existing steelmaking assets while new commercial pathways to decarbonise steelmaking are developed over time.
By leveraging shared knowledge and resources with our partners, we are investing in support for innovative solutions—like the potential of CCUS—that we see as an essential part of decarbonising hard-to-abate sectors such as steelmaking.”
While we acknowledge the potential of BHP to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BHP and that has 100x upside potential, check out our report about this cheapest AI stock.
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