Top 5 ASX growth shares to watch in January 2026

What are ASX growth shares?

ASX growth shares are companies that reinvest profits to fuel rapid expansion rather than pay dividends (most of the time). The five stocks in this article prove the point – they've delivered returns of up to 29.98% in just three months, and while four shares on our list pay dividends, these are small enough that the companies can reinvest the majority of their profits to drive growth.

These companies typically trade at high price-to-earnings (P/E) ratios because investors pay a premium for future growth. For example, Stanmore Resources currently trades at a P/E of 551.16, while Zimplats sits at 38.87 – both reflecting expectations of continued expansion.

The trade-off, though, is that growth shares can fall as fast as they rise. Miss quarterly expectations by even a small margin, and share prices can tumble rapidly.

What are the advantages and disadvantages?

The stocks featured in this article exemplify the volatility inherent in growth shares. Take Champion Iron, for instance, which experienced a solid 29.98% surge in just three months. In contrast, other companies have seen substantial volatility in the last quarter, highlighting the diverse range of outcomes within this category.

Growth shares occupy a middle ground between high-risk penny stocks and the more stable blue-chip dividend stocks. They offer the potential for substantial gains without the extreme volatility of speculative plays.

However, the risk lies in how these companies typically reinvest profits rather than distribute dividends, meaning share traders rely mostly on share price appreciation. Failure to meet growth targets can result in share prices falling as dramatically as they rise.

What makes ASX growth shares special right now?

Several powerful catalysts are potentially going to drive solid ASX growth share performance in 2026.

• Non-energy minerals stability: Both Zimplats and Champion Iron specialise in non-energy minerals, a strong growth driver in the Australian economy
• Innovation: Companies like Champion Iron rely on R&D and innovation to maintain their lead in their industries
• Economic backbone: Most of these companies operate in industries that bolster the Australian economy, such as mining and construction

Australia's stable regulatory environment, and strong tech and mining sectors provide a perfect launchpad for these growth stories to unfold.

Top 5 ASX growth shares to watch in January 2026

These five shares delivered solid returns between October and December 2025. Here's what each company offers and why traders are paying attention.

Our selection criteria

• Performance: Up to 29.98% gains in three months
• Growth focus: Profits reinvested in R&D and expansion
• Sector diversity: Construction, mining and process industries (olive-related products)

Past performance doesn't guarantee future returns – all investments and trades carry risk.

Overview of the ASX growth shares in this article

You can CFD and share trade all of the shares in this article with IG Australia.

All figures are correct as of 31 December 2025.

1. GenusPlus Group Limited (ASX: GNP)

Industry: Industrial services

Market cap: A$1.11 billion¹

P/E ratio: 32.32²

GenusPlus is an infrastructure specialist focused on building and maintaining the backbone of power and communications networks across the country.

The company works on a wide range of projects – from electrical transmission and distribution to telecommunications infrastructure – helping keep energy flowing and connectivity strong for businesses, utilities and communities.

It’s structured around several complementary areas; its Infrastructure division handles the planning, design, construction and ongoing maintenance of critical power assets. The Communications segment supports telecom network rollouts and upgrades while Industrial Services provides services such as electrical and mechanical installations, fabrication and engineering support for energy, mining and industrial clients.

What’s particularly notable about the company is its role in Australia’s broader transition towards renewable energy. As more renewable sources like wind and solar come online, the country’s power grid needs to adapt – and GenusPlus is involved in projects that help connect new energy sources into existing networks, including battery storage systems and grid upgrades.

Highlights:

• Over recent months, the company has enjoyed strong market attention thanks to sustained contract wins and a growing order pipeline
• Its performance reflects both a diverse revenue base and a strategic niche where infrastructure investment meets long-term structural trends such as electrification and communications growth
• While its share price has only grown 3.80% over the past three months, its YTD performance is much more impressive – sitting at 140.08%³

2. Cobram Estate Olives Limited (ASX: CBO)

Industry: Process industries

Market cap: A$1.89 billion⁴

P/E ratio: 35.39⁵

Cobram Estate Olives is one of Australia’s leading olive oil producers, known for its premium extra virgin olive oil and related products. Based in Victoria, the company operates olive groves and processing facilities that help produce and package a range of olive-derived products for domestic and international customers.

This business sits in the consumer defensive sector, meaning it focuses on products people buy regularly regardless of economic cycles.

Cobram Estate has built its brand around quality, sustainability and consistent product standards in a market where consumers increasingly favour healthier natural food choices.

The company sells its products in both Australia and overseas markets, including the US, where demand for premium olive oil continues to grow. The brand has worked to strengthen its footprint in grocery chains and direct-to-consumer channels, helping it to stay relevant in a crowded food landscape.

Highlights:

• Recently, it’s drawn attention on the ASX because of its strong price momentum relative to peers, reflecting renewed share trader interest in quality food producers with tangible consumer demand
  

3. Zimplats Holdings Limited (ASX: ZIM)

Industry: Non-energy minerals

Market cap: A$2.60 billion⁶

P/E ratio: 38.87⁷

Zimplats is a major platinum group metals (PGMs) producer, headquartered in Harare, Zimbabwe and listed on the ASX. Its core business is mining and processing a suite of precious and associated metals, including platinum, palladium, rhodium, iridium and ruthenium – all of which play key roles in industrial applications, from automotive catalytic converters to electronics and emerging clean-energy technologies.

The company operates several underground and surface mining operations focused along the Great Dyke, a geologically rich formation known for its PGM deposits. Zimplats’s mining assets are supported by concentrator plants and metallurgical facilities that help refine raw ore into products sold to global markets.

PGMs are prized for their high performance in challenging conditions – they’re used to reduce emissions in vehicles and feature in hydrogen fuel cells, along with other advanced technology applications. Because of this, demand for these metals can be tied to broader industrial and environmental trends.

Highlights:

• While the mining sector can be cyclical and influenced by global metal prices, Zimplats stands out for its established operations and long production history
• Its recent market activity has reflected both commodity price influences and sentiment toward miners with exposure to precious and strategic metals

4. Champion Iron Limited (ASX: CIA)

Industry: Non-energy minerals

Market cap: A$3.23 billion⁸

P/E ratio: 24.02⁹

Champion Iron specialises in iron ore, one of the world’s most essential raw materials for steel production. Its flagship asset is the Bloom Lake mine in Québec, Canada – a major iron ore producer with export links to global steel markets.

The company’s product is high-grade iron ore concentrate, which is valued by steelmakers because it yields more steel per ton and reduces emissions in the steelmaking process compared with lower-grade ores.

Champion transports its product from mine to rail then to port for shipment to customers around the world, including Asia and Europe.

Over recent months, Champion Iron has featured in market discussions due to its iron ore exposure and project developments, attracting attention as global steel demand and supply chain dynamics continue to evolve.

Although iron ore can experience price volatility, companies like Champion that produce higher-quality material often command a premium and maintain relevance when steel production remains robust.

Highlights:

• The business also explores and develops adjacent projects in the Labrador Trough region, giving it room to potentially expand capacity or enter new ore streams over time
• It has the highest share-price gain over the past three months on our list, with an increase of 29.98%

5. Stanmore Resources Limited (ASX: SMR)

Industry: Energy minerals

Market cap: A$2.13 billion¹⁰

P/E ratio: 551.16¹¹

Stanmore Resources is a metallurgical coal producer, operating in Queensland’s Bowen and Surat basins – two of the country’s key coal regions. Metallurgical coal differs from thermal coal; it’s primarily used in steelmaking, where carbon added to iron ore creates steel, a foundational material for infrastructure and manufacturing.

The company’s portfolio includes several significant coal assets, such as South Walker Creek, Poitrel and the Isaac Plains Complex. These operations produce high-quality met coal that is exported to global markets, especially in Asia where steelmaking activity is concentrated.

In recent years, Stanmore has been advancing production and development projects while also working to expand its reserves and future opportunities through exploration and strategic resource acquisitions.

Operational updates have highlighted record production periods and improvements in output at key sites.

Highlights:

• Its performance can be influenced by global coal pricing and steel industry demand, which tend to fluctuate with economic conditions. However, its focus on metallurgical coal – a key ingredient in steel production – gives it a clear role in the broader materials supply chain

How to trade ASX growth shares with IG Australia

CFDs

1. Open a CFD trading account with IG AU
2. Search for ASX growth shares on the IG platform
3. Decide whether to go long (buy) or short (sell)
4. Choose your position size
5. Set stop-loss and limit orders
6. Place your trade and monitor it

Share trading

1. Open a share trading account with IG AU
2. Search for ASX growth shares
3. Choose the stock you want to buy
4. Determine how many shares you want to purchase
5. Place your order
6. Monitor your investment 

FAQs about growth shares 

Footnotes

1. TradingView, December 2025
2. TradingView, December 2025
3. TradingView, December 2025
4. TradingView, December 2025
5. TradingView, December 2025
6. TradingView, December 2025
7. TradingView, December 2025
8. TradingView, December 2025
9. TradingView, December 2025
10. TradingView, December 2025
11. TradingView, December 2025