Persistently high inflation, the Fed’s hawkish stance to bring inflation down, and an uncertain economic trajectory made investing in equities unattractive. Nevertheless, several stocks defied the general market trend and delivered stellar returns in 2022. Against this background, let’s zoom in on five mid-cap stocks (market cap of $2-$10 billion) that have more than doubled this year.
With a market cap of $2.26 billion, shares of the product tanker shipping company Torm have risen by 267.5% year-to-date. The spike in TRMD stock reflects higher freight rates. The company that transports refined oil products saw its revenues surge by 131% for the first nine months of 2022. While TRMD stock has no analyst ratings on TipRanks, the company is upbeat as the product tanker market continued to witness solid demand in Q4. Our data shows that out of 584,884 portfolios on TipRanks, 21.1% increased their exposure to TRMD stock. Overall, it has an Outperform Smart Score of nine out of 10.
PBF Energy is an independent oil refiner with a market cap of $5.73 billion. Strong demand, higher oil prices, and a reduction in net leverage drive PBF stock, which has gained about 262% year-to-date. PBF stock has six Buy and three Hold recommendations for a Moderate Buy consensus rating. Meanwhile, due to the significant growth in its price, analysts’ price target of $47.44 implies 1.5% upside potential. While hedge funds and insiders sold PBF stock, 17.2% of investors increased their holdings in PBF stock in the last 30 days. It carries an Outperform Smart Score of nine out of 10.
International Seaways (NYSE:INSW)
International Seaways is a tanker company that transports crude and petroleum products. Thanks to the robust rate environment, INSW stock has gained about 197% in 2022 and has a market cap of $2.11 billion. It sports a Strong Buy consensus rating based on six unanimous Buy recommendations. INSW stock has positive signals from retail investors and insiders (who bought INSW shares worth $4.8M in three months). International Seaways has a “Perfect 10” Smart Score on TipRanks.
Sigma Lithium is a lithium producer that benefits from the strong demand and pricing supported by the growing adoption of electric vehicles (EVs). SGML stock has gained about 203.7% and has a market cap of $3.16 billion. Canaccord Genuity analyst Katie Lachapelle is bullish about SGML stock. Further, our data shows that retail investors holding portfolios on TipRanks bought its stock. However, insiders sold SGML shares worth $648K in three months. It has a Neutral Smart Score of five out of 10.
CONSOL Energy is a producer of bituminous coal. The improvement in the average realized coal revenue per ton sold led to a 214.8% growth in CEIX stock year-to-date. CEIX stock has a market cap of $2.41 billion and has received two Buy recommendations on TipRanks. CONSOL Energy has positive indicators from hedge funds and retail investors. Hedge Funds bought 216K CEIX stock last quarter. It has a “Perfect 10” Smart Score on TipRanks.
Using TipRanks’ Stock Comparison tool, let’s check how these stocks stack up on our valuable datasets.