6. Halcon Resources (The First Actual Double!)
> Market Cap: $1.4 billion
> Share Price: $3.50
> 52-Week Range: $3.16 to $8.20
> Forward P/E: 20
> Stock Options: Yes

Halcon Resources Corp. (NYSE: HK) has been a serial disappointment. But Chairman and CEO Floyd Wilson is no stranger to lucrative deal making in the oil and gas sector – and the Houston-based company is operating in the prolific Bakken, Eagle Ford and Utica shale regions.

2013 was the year that revenues started to pick up exponentially, and sales growth is expected to surpass 17%, to $1.16 billion, in 2014. The company is just turning profitable, and that trend is expected to continue. And with the current stock price at less than half its year ago value, the stock could double and still not recover back to its 52-week high.

Halcon peaked in 2012 with a stock price of about $12, but that figure’s been in decline ever since. The shares have dipped low enough that it even trades at a discount to its September 2013 book value of $1.84 billion. This stock used to be considered a buyout candidate, and the endless number of oil and gas mergers that we’ve seen in recent years could help keep interest in this company alive.

Halcon Update May 30, 2014:  Halcon Resources Corp. (NYSE: HK) may be the first of the stocks to double that made it close to the mark. Shares were at $6.35 on Friday, up over 81% from the $3.50 price when we first included it. This stock was talked up on Friday by Zacks Investment Research, but the firm only rates it a #3 (Hold). Zacks said that investors may definitely want to consider this stock to profit in the near future. One caveat – we would point out that the consensus price target is down at $5.75.

Update June 17, 2014: Halcon became the first stock to successfully double.

7. Hecla Mining
> Market Cap: $1.07 billion
> Share Price: $3.12
> 52-Week Range: $2.63 to $5.59
> Forward P/E: 60
> Stock Options: Yes

Hecla Mining Co. (NYSE: HL) was a down-and-out silver, gold, and precious metals mining operation long before the overall mining industry ran into its current challenges of rising costs and lower commodity prices. A series of on-again, off-again mergers and transactions haven’t helped, either.

After posting revenue of $477 million in 2011, the company’s offline mining operation pulled revenue down to $321 million in 2012. Since then, with the mining operations back online, sales grew by close to 24% in 2013, and they are expected to grow by another 33% in 2014 to $534 million

Hecla’s woes appeared long before that of its peers – due in part to accidents and closures at its unlucky “Lucky Friday” mine. But the company’s gold and silver production were up strongly last year, and Hecla also reported it still has $212 million in cash.

Hecla is a turnaround story, and its stock could possibly do well even if gold and silver remain in limbo or drop marginally. That being said, gold and silver miners generally trade as a group, and if metals rekindle their bearish trends then Hecla’s stock will not escape that fate. Hecla was a $10 stock at the start of 2011. It has been a troubled stock ever since.

Hecla Update on April 9: Production Gains Keeps The Turnaround (and Chance of a Double) Alive

Hecla Update on February 15: After Earnings, Hecla and Gold Miners Want To Break Out!  Share Price $3.47

8. VIVUS (Removed From List)
> Market Cap: $765 million
> Share Price: $7.55
> 52-Week Range: $7.48 to $15.62
> Forward P/E: Negative
> Stock Options: Yes

VIVUS Inc. (NASDAQ: VVUS) is one of the emerging pharma stocks whose potential huge upside comes with great risks. The company’s Qsymia drug seems to be the safest of the three anti-obesity drugs currently being marketed. Yet despite health insurer Aetna’s announcement it would cover Qsymia, share prices have continued to slide. The commercial strategy of the company’s prior management hurt VIVUS, which despite expectations of much earlier revenues only started to market the drug last year.

The consensus price target increased to $11.30 per share. Cowen & Co. analysts are extremely bullish on VIVUS and have a target price of $19 per share, signaling a more than a 150% upside. Sales are expected to grow by more than 80%, to about $120 million, in 2014.

VIVUS’ big potential upside comes from America’s big and growing waistline. If health care plans become more proactive, weight loss drugs could become huge winners. There are always ongoing safety trial risks with drugs like this, but there are huge potential rewards as well.

VIVUS Update February 25: VIVUS Chances Of Double Are Dimming – Share price $5.90, taken off the list as the outlook has changed for the worse.

9. Westport Innovations
> Market Cap: $1.1 billion
> Share Price: $17.50
> 52-Week Range: $16.93 to $35.40
> Forward P/E: Negative
> Stock Options: Yes

Westport Innovations Inc. (NASDAQ: WPRT) has tumbled from its 2012 highs. Although investors have so far been left empty-handed, they are still hoping the T. Boone Pickens’ plan of converting all trucks to CNG fueled trucks over the next decade to eventually gain traction.

This stock briefly traded above $40 back in 2012, and a price of close to $17.50 does not sound too promising. Of the few analysts who follow Westport, the consensus price target is above $27, and one analyst has a formal price target all the way up at $37 per share. 2014 will be a “show me the money year” for Westport, as sales are expected to grow close to 40% to about $225 million after dropping by half to around $162 million (analyst estimate) in 2013.

Update on February 27 after earnings: 24/7 Wall St. remains very positive on Westport Innovations upside versus downside, but chances of a double this year have diminished. Holding in at $16 is impressive, but this news likely kills the chance of a double if we keep the same criteria for Westport as when it was selected. Stay tuned with a final verdict over the next quarter.