In this article, we will take a look at some of the best mid-cap stocks that are currently offering at least 100% upside potential to investors. On June 13, CNBC reported that U.S. equities rose as investor sentiment improved amid optimism surrounding a potential peace agreement between the United States and Iran, along with a strong demand for new stock offerings.
The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all ended the week higher, while oil prices declined as markets monitored developments on a possible agreement that could include lifting oil sanctions and reopening the Strait of Hormuz.
Strong demand for new public offerings has also bolstered investor confidence. According to Mark Klein, CEO and president of SuRo Capital, SpaceX’s IPO could serve as a key sign of future IPO activity, as more businesses think about going public. Several technology stocks posted gains during the session, while Jeff Kilburg, CEO of KKM Financial, said the AI theme continues to strengthen despite recent market volatility.
The strong market performance also reflected continued interest in growth-oriented sectors, particularly technology and artificial intelligence-related investments. With that background, let’s explore our 10 Best Mid-Cap Stocks That Could Double Your Money.
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Our Methodology
To identify relevant stocks for this article, we screened U.S.-listed companies with market capitalizations between $2 billion and $10 billion. Also, we only shortlisted stocks with at least 100% upside potential, according to consensus, as of the June 12 close. Finally, we selected 10 stocks with the highest upside and ranked them in ascending order.
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 599.2% since May 2014, beating its benchmark by 372 percentage points (see more details here).
10. Uranium Energy Corp. (NYSE:UEC)
Uranium Energy Corp. (NYSE:UEC) is one of the 10 best mid-cap stocks that could double your money.
On June 9, Amir Adnani, President and CEO of Uranium Energy Corp. (NYSE:UEC), stated that the company achieved a number of noteworthy milestones during the quarter that reflect on its operational execution capabilities, as well as the size and caliber of its asset portfolio. It initiated production at Burke Hollow, the biggest greenfield ISR uranium project in the U.S. in well over a decade. This is a significant step towards increasing the amount of uranium available domestically.
In order to complement its methodical and controlled growth approach, production for the Christensen Ranch project also began, following the recently installed header houses, while further capacity expansion initiatives are underway. Simultaneously, the company finished engineering programs and delineation drilling at Ludeman, as its next planned ISR uranium facility.
With substantial liquidity, no liability, a sound balance sheet, and an expanding uranium inventory that boosts the implementation of a long-term strategy, the company continues to be in a very good financial position. The management’s decision to maintain inventory levels this quarter is an example of how their unhedged approach allows for flexibility in sales decisions.
These achievements align with a growing national emphasis on nuclear energy, such as DOE’s “Nuclear Dominance – 3 by 33” campaign, which aims to bolster the country’s domestic nuclear fuel supply chain.
Uranium Energy Corp. (NYSE:UEC) is involved in the pre-extraction, extraction, exploration, and processing of titanium and uranium concentrate properties. The company has operations across Canada, the U.S., and the Republic of Paraguay.
