5 Best Australian Shares To Buy 2021 [Best Growth Stocks ASX]

Henry Fung

Henry is a co-founder of MF & Co. Asset Management with over 15 years of experience as a trader, investor and asset manager. Henry runs the Options Income Strategy and has a free 5-day options income strategy course you can take to learn how to use options to generate income.

October 14, 2021

Today, we’ll look at the best Australian shares to buy on the ASX in 2021 that we think are the best growth stocks.

Some of these best growth stocks have already made strong gains and have a lot more upside potential to go.

With record low interest rates boosting capital markets,  growth stocks that are highly leveraged to a bullish market will benefit most.

Even though growth stocks have taken a beating recently due to inflation fears and rotation into value stocks, this has presented an opportunity to grab some of the best growth stocks on the ASX for cheap.

The Best Australian Shares To Buy 2021

We’ve outlined the 5 best growth stocks to buy that we have found to have a good business plan with lots of upside potential and represents some of the best that the ASX has to offer.

Ramsay Health Care (ASX:RHC)

Ramsay Health Care Shares (ASX RHC)

Ramsay Health Care (ASX:RHC) is one of the world’s largest private hospital chains.

The company has been of interest to the markets due to the spike in the number of hospital patients resulting from the pandemic.

Its recently released full-year FY21 results impressed with record performance, despite lost revenue from elective surgeries, which have higher margins than COVID-related services.

Data from the company shows significant pent-up demand existing for elective surgical and non-surgical patients due to lockdowns, the focusing of resources on COVID, and general public aversion of hospitals.

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Read our research on Ramsay Health Care (ASX:RHC) and how it made our best Australian shares to buy 2021 list.

Pilbara Minerals (ASX:PLS)

Pilbara Minerals (ASX PLS)

Pilbara Minerals Ltd (ASX:PLS) is one of Australia’s biggest listed pure-play lithium mining players.

The company has lately been in the limelight due to the solid rally in its stock and its recent acquisition of Altura Mining for $175M.

The deal is a good fit for Pilbara Minerals because Altura’s Pilgangoora mine is adjacently located, making the acquisition easy to integrate and generate economies of scale.

Pilbara Minerals was also recently inducted into the ASX200, Australia’s flagship index.

The company’s stock has been having a great run being front-and-centre of the decarbonization megatrend, a thematic investor favourite.

Read the full research article on why Pilbara Minerals (ASX:PLS) is one of the best growth shares to buy.

Magnis Energy Technologies (ASX:MNS)

Magnis Energy Technologies (ASX:MNS)

Magnis Energy Technologies (ASX:MNS) is an Australian company involved in the development of cheap and nearly 100% recyclable batteries that address the global decarbonization megatrend.

Magnis Energy Technologies is developing its product through strategic partnerships to garner expertise in various segments of the battery value chain.

Its proprietary battery is claimed to outperform current technologies while being cheaper and environmentally friendlier.

The company also has great verticals, with an investment in a high-quality long-life mine.

Read the research on how Magnis Energy Technologies (ASX:MNS) made our best Australian shares to buy 2021 list.

PointsBet Holdings (ASX:PBH)

PointsBet Holdings (ASX:PBH)

PointsBet Holdings (ASX:PBH) is an online gaming operator whose business spans Australia and the Americas.

The pandemic spurred betting across the globe, but in the US, legal gambling has taken off and is in the midst of a historic expansion in activity.

The virus has sparked an unprecedented spike in online gambling and sports betting, in all their avatars, because casinos shut down and people were locked down inside their homes.

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PointsBet has benefited from these market dynamics as apparent from its FY21 numbers.

Read the full article on why PointsBet Holdings (ASX:PBH) is one of the best growth stocks to buy.

Healius (ASX:HLS)

Healius (ASX:HLS) - best growth stocks ASX

Healius is a healthcare services provider with three main businesses – pathology, imaging and medical centres.

With an aging population and a growing pathology industry, Healius is well-positioned to take advantage of the growth in this industry.

Even though the company has underperformed recently, a lot of this can be attributed to COVID-19.

As the world starts to dig itself out of the COVID-19 issue, we should see a strong rebound in revenue as a backlog of revenue is realised.

With an NTM EV/EBITDA valuation 10x lower than the likes of Cochlear (ASX COH) and 3.4x lower than CSL (ASX CSL), Healius is a good option to get exposure to healthcare with more upside potential in lieu of the more expensive options.

Read the full research article on why Healius (ASX:HLS) is one of the best growth shares to buy.

Bonus Stock: Bank of Queensland (ASX:BOQ)


Bank of Queensland (ASX:BOQ) is one of Australia’s largest financial institutions.

The banking sector has been one of Australia’s best-performing sectors over the past few months because of a number of factors.

The reversal of COVID loan provisions created last year, a booming housing market, and better credit growth due to economic recovery from the pandemic have all being strong tailwinds.

Meanwhile, the ghosts of the Royal Commission inquiry into the sector appear to have been laid to rest, and the bigger, now “cash-jammed” banks, e.g. Commonwealth Bank of Australia (ASX: CBA), have started announcing record buybacks and dividend payouts.

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The Bank of Queensland (ASX:BOQ) acquired ME Bank earlier this year in a smart move claimed to create a meaningful alternative to the big banks.

We believe the BOQ share price has strong upside potential because of sector tailwinds and the bank’s own efforts to transform its business.

Read the full research article on why Bank of Queensland (ASX:BOQ) is one of the best growth shares to buy.

How Do We Find Growth Stocks To Buy?

Growth stocks are generally driven almost entirely by qualitative factors such as first mover advantage, quality and quantity of assets, permits and technology.

Quantitative factors such as profit, revenue and so forth generally take a back seat.

Even though it is imperative that their financials are sound, when it comes to growth stocks, we are buying the story and perceived future value.

However, the very nature of valuing companies through qualitative factors means that there is a lot of room for error, opinion and subjectivity.

This means that high growth stocks tend to be small-cap, high risk and highly speculative.

The hardest part when it comes to finding growth stocks is the ability to process the information and factors at hand to make a good judgement call.

Our Research team specialises in this and has combed the ASX for some of the best growth stocks on the Australian market.

Make Your Money Work Harder For You

Picking the best stocks to buy now, timing the entry and having an edge in the market is not easy.

Download our special report below for another 5 best shares to buy now which comes with a special strategy that we use for our clients to make your money work harder for you.

Are you still looking for the best stocks to buy in 2021? We’ve put together a free report on 5 stocks that we think are the best buys on the ASX right now. Download it instantly here.

This is general advice only. MF & Co Asset Management has not considered your personal financial needs, objectives or current situation. This information is not an offer, solicitation, or a recommendation for any financial product unless expressly stated. You should seek professional investment advice before making any investment decision.

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MF & Co. Asset Management

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We are specialists in advising and trading in Australian and US Equities, Index & Equity Options and Options on Futures.


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