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Top ASX shares to buy in November 2020

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We asked our Foolish writers to pick their favourite ASX shares to buy in November. 

Here is what the team have come up with…

Chris Chitty: Lynas Corporation Ltd (ASX: LYC)

Both the Australian Prime Minister and the United States President have recently spoken about the importance of critical minerals. Owning one of the highest quality rare earth mines in the world, I believe Lynas is in a great position for growth. This ASX share is already the second largest producer of separated rare earth materials worldwide and has plans to build additional separation facilities in Australia and the US, both of which have attracted government support.

With rare earths in short supply and government subsidies available, I feel Lynas has an enormous opportunity to grow value for its shareholders. I think today’s Lynas share price offers a great opportunity to investors.

Motley Fool contributor Chris Chitty does not own shares of Lynas Corporation Ltd.

Daniel Ewing: Catapult Group International Ltd (ASX: CAT)

Catapult is a global sports analytics company that provides some of the best sporting teams around the world with its diagnostic technology. You may have seen its products worn by superstars from FC Bayern Munich or closer to home, the Fremantle Dockers.

In recent times, the company has seen impressive earnings before interest, taxes, depreciation and amortisation (EBITDA) growth as its subscription revenue has skyrocketed 21%. Furthermore, as of its FY20 results, the company is cash flow positive. This is important for Catapult to be able to drive growth organically through its impressive research and development team.

Motley Fool contributor Daniel Ewing owns shares of Catapult Group International Ltd.

Tristan Harrison: City Chic Collective Ltd (ASX: CCX)

At the time of writing the City Chic share price is $2.77, which puts it at 20x FY22’s estimated earnings.

There’s no doubt that COVID-19 has impacted City Chic’s growth. But the company has shown it has strong e-commerce credentials. It reported 65% of total sales were online in FY20. It also said that 42% of global sales were in the northern hemisphere.

I think City Chic is an exciting ASX share because of its global growth aspirations. Higher online sales should also help margins over time and the company may soon be able to acquire another US retailer with its excess capital.

Motley Fool contributor Tristan Harrison does not own shares of City Chic Collective Ltd.

Ken Hall: Woodside Petroleum Limited (ASX: WPL)

I think the Woodside share price could be a speculative buy in November. ASX shares in the energy sector have been smashed in 2020 as the COVID-19 restrictions have caused demand for energy in key industries such as travel and manufacturing to plummet.

However, things are looking up on the domestic front. Border restrictions appear set to ease in the coming months and we could see demand start to follow shortly. Globally, challenges remain with significant coronavirus case numbers in the US, Europe and elsewhere.

The Woodside share price is down nearly 50% in 2020 and I think November could represent an opportunity to buy in at a good price.

Motley Fool contributor Ken Hall does not own shares of Woodside Petroleum Limited.

Aaron Teboneras: CSL Limited (ASX: CSL)

I believe biotherapeutics giant, CSL, is one of the highest quality ASX shares you can buy. Its Behring business treats rare and serious diseases, while its Seqirus business provides influenza vaccines.

The global leader expects strong growth in FY21 with increased disease awareness and improved diagnostics. Despite plasma collections being slightly impacted by COVID-19, CSL projects revenue to increase between 6% and 10%.

In addition, the alliance with the University of Queensland and the Coalition for Epidemic Preparedness Innovations (CEPI) is aiming to have a COVID-19 vaccine available in 2021.

Motley Fool contributor Aaron Teboneras owns shares of CSL Limited.

Sebastian Bowen: Telstra Corporation Ltd (ASX: TLS)

For this month’s ASX share pick, I just couldn’t go past Telstra. The Telstra share price is near both its 52-week and all-time lows right now. Whilst that might be distressing for existing shareholders, it also means that the company’s 16 cents per share dividend is reaching an extremely high yield of close to 6% (or 8.5% grossed-up).

Some investors are worried that this dividend is an endangered species, but the company recently confirmed at its annual general meeting that it intends to keep it steady in FY2021 and hopefully beyond. As such, I think Telstra is a great buy today for any investor, but especially those who value hefty dividend income.

Motley Fool contributor Sebastian Bowen owns shares of Telstra Corporation Ltd.

Bernd Struben: Rural Funds Group (ASX: RFF)

Rural Funds Group is a real estate investment trust (REIT). It owns a diverse portfolio of high quality Australian agricultural properties, including macadamia farms, cattle ranches, and almond and sugar plantations. The company’s assets are spread among different states and leased to quality tenants.

The Rural Funds share price has a proven track record of consistent growth going back to 2014. It’s also a reliable dividend payer, coming through with all four quarterly dividend payments this year for an annualised yield of 4.5%, unfranked.

Year to date, Rural Funds shares are up more than 24%.

Motley Fool contributor Bernd Struben does not own shares of Rural Funds Group.

Glenn Leese: Telstra Corporation Ltd (ASX: TLS)

Telstra is easily the most well-known telecommunication and information services provider in Australia. It has huge market share and isn’t going anywhere anytime soon. Not only does Telstra service retail customers, but business and government clients as well. Telstra was founded in 1901.

The potential for 5G networks to be deployed in Australia in the near future is high. Telstra is in a prime position to capitalise on this. This ASX share also offers a great dividend in a time of market uncertainty, producing a yield of nearly 6%. Lastly, the Telstra share price is close to all time lows. Reaching these low levels in 2010 and again in 2018 resulted in strong bullish bounces both times. I believe we could see this again in the near future.

Motley Fool contributor Glenn Leese does not own shares of Telstra Corporation Ltd.

Brendon Lau: Austal Limited (ASX: ASB)

The Austal share price has recently sunk deeper on softer than expected FY21 guidance. The rising Australian dollar and worries that a Joe Biden presidency will cut defence spending are also some of the issues weighing on this ASX share. But I think these concerns look overdone.

Military spending is likely to grow to counterbalance the rising power of China. I also feel Austal’s relatively defensive earnings are not fully appreciated by the market. This share is a strong value buy in my book.

Motley Fool Contributor Brendon Lau owns shares of Austal Limited.

Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks now

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In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

*Returns as of 6/8/2020

The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Catapult Group International Ltd., CSL Limited and Austal Limited. The Motley Fool Australia owns shares of and has recommended Telstra Limited and Rural Funds Group. The Motley Fool Australia has recommended Catapult Group International Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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