Although you generally get what you pay for, in a few cases, it’s possible to acquire diamonds in the rough via the best affordable stocks to buy. Numerically, we’re talking about thousands of opportunities listed across various U.S.-based exchanges. Therefore, it’s not at all out of the question that some solid ideas manage to slip through the cracks. To be sure, investors participating in the top stocks under $10 must be willing to be patient. Going through the bargain bin of the equities sector is akin to finding superstars down the order of the NFL Draft. Sure, the possibility always exists of drafting Tom Brady. However, you’re more likely to end up with Giovanni Carmazzi.

I’m not casting aspersions because making it to any level of in the professional sporting ecosystem represents a massive accomplishment. However, the point is that you should be prepared for a choppy ride. If you can handle the risks, these high potential stocks under $10 could be right up your alley.

International General Insurance (IGIC)

A global specialist commercial insurer and reinsurer, International General Insurance (NASDAQ:IGIC) ranks among the lesser-known entities among the best affordable stocks to buy. The company underwrites a diverse portfolio of specialty lines, according to its public profile. With a price tag of $9.20 as of this writing, IGIC managed to swing up more than 12% since the beginning of this year.

Using data from investment resource Gurufocus, International General may be one of the high potential stocks under $10. Primarily, IGIC appears undervalued. Specifically, the market prices IGIC at a trailing multiple of 4.62 and a forward multiple of 4.28. Both metrics are well below their respective sector median metrics.

Not only that, the company features strong operational stats. On the top line, its three-year revenue growth rate (on a per-share basis) pings at 21.6%, outflanking 89.61% of its peers. Also, its EBITDA growth rate during the same period clocks in at 52.7%, above 95.68%.Finally, RBC Capital’s Mark Dwelle pegs IGIC a buy, with a price target of $11. This implies almost 20% upside potential, making it one of the top stocks under $10.

Costamare (CMRE)

Based in Monaco, Costmare (NYSE:CMRE) is another example of best affordable stocks to buy that might not be on most American investors’ radar. A Greek and Marshall Islands corporation, Costamare is one of the leading owners and providers of containerships for charter. Priced at $9.15, it’s one of the riskier enterprises because of the underlying business as well as concerns about the global economy.

Nevertheless, by the numbers, CMRE is particularly enticing because of its fiscal prowess. Perhaps most notably, Costamare’s three-year revenue growth rate clocks in at 29.9%, beating out 89.65% of peers in the transportation industry. Also, its EBITDA growth rate during the same frame is 37.7%, above 80.67%. To be fair, the company has incurred steadily slowing revenue on a quarter-to-quarter (sequential) basis. At the same time, Costamare is consistently profitable, commanding a trailing-year net margin of over 53%. Therefore, it may well be one of the cheap stocks with high returns.

Lastly, analysts peg CMRE as a consensus moderate buy. Their average price target lands at $11, implying over 20% upside potential.

Enel Chile (ENIC)

Headquartered in Santiago, Chile, Enel Chile (NYSE:ENIC) controls and manages a group of companies that operates in its home nation’s electricity market. Per its public profile, its primary business is to exploit, develop, operate, generate, distribute, transform and/or sell energy. Since the beginning of this year, ENIC gained nearly 44% of equity value. At time of writing, shares trade hands at just over three bucks.

To be sure, ENIC against a longer-term framework happens to be all over the map. In the past 60 months, ENIC slipped almost 44%. That said, ENIC could make for one of the best affordable stocks to buy because of its operational stats. Specifically, its three-year revenue growth rate hits 18.6%, above 83% of its peers. Also, its EBITDA growth rate during the same period is 43.3%, above 95.8%. Interestingly, even with these impressive figures, the market prices ENIC at a trailing sales multiple of 0.72. As a discount to revenue, Enel Chile ranks better than 70.09% of the regulated utilities sector.

To close, Scotiabank rates ENIC a buy with a price target of $3.70. This implies over 21% upside potential,

Ramaco Resources (METC)

Hailing from Kentucky, Ramaco Resources (NASDAQ:METC) is an operator and developer of high-quality, low-cost metallurgical coal. While coal suffers from a poor reputation amid rising interest in clean and renewable energy sources, the sector remains relevant. Priced at $8.50 at time of writing, Ramaco features a market cap of almost $378 million. Since the Jan. opener, METC gained nearly 1%.

As with the other ideas for best affordable stocks to buy, Ramaco delivers on the operational front. On the top line, its three-year revenue growth rate comes in at 30.9%, above 90.81% of its peers. Also, its EBITDA growth rate during the same frame impresses at 51.7%. Also noteworthy is its book growth in the past 36 months at 19%.

Despite its financial rigor, METC appears undervalued. Currently, the market prices METC at a trailing multiple of 3.81. As a discount to trailing earnings, Ramaco ranks better than over 89% of the competition. Turning to Wall Street, analysts peg METC as a consensus moderate buy. Their average price target lands at $11.50, implying over 35% upside potential.

Heritage Global (HGBL)

One of the highest-risk enterprises among the best low-cost stocks for investment, Heritage Global (NASDAQ:HGBL) will require nerves of steel. According to its corporate profile, Heritage Global is a value-driven, innovative leader in corporate and financial asset liquidation transactions, valuations and advisory services. Presumably, business is good. Since the Jan. opener, HGBL gained over 63% of equity value.

If that wasn’t enough of a warning, HGBL skyrocketed nearly 205% in the trailing one-year period. Nevertheless, it’s possible that shares could swing even higher. At the moment, the company features a decent three-year revenue growth rate of 12.3%, above 58.54% of its peers. Its EBITDA growth rate during the same period is more impressive at 39.8%, above 72.81%.

Despite the above performance, the market prices HGBL at a trailing multiple of 8.19. As a discount to earnings, Heritage Global ranks better than 78.29% of companies listed in the capital markets segment. Looking to the Street, analysts peg HGBL as a unanimous strong buy. Their average price target comes in at $5.50, implying 40% upside potential. Thus, it could be an interesting idea for cheap stocks with high returns.

Arhaus (ARHS)

Another risky idea for best affordable stocks to buy, Arhaus (NASDAQ:ARHS) will almost surely attract skepticism from at least some investors. Per its corporate profile, Arhaus provides merchandise assortments across various categories, including furniture, lighting and textiles. However, because of the affordability challenges impacting real estate, this enterprise may feel pressure over the long run.

Still, for those who want to speculate on top stocks under $10, ARHS could be interesting. Priced at $8.05, shares took a beating so far this year. However, in the past 365 days, they’re up over 41%. Moreover, Arhaus justifies this increase in its value due to its operational stats. Its three-year sales growth rate clocks in at 35.6%, beating out 91.62% of its peers.

Also in the past 36 months, the company’s EBITDA growth rate impresses at 74.1%. Even with these robust stats, the market prices ARHS at a trailing multiple of 7.32. As a discount to earnings, Arhaus ranks better than 86.39% of its peers. Lastly, analysts peg ARHS as a strong buy. Their average price target hits $12.42, implying over 54% upside potential.

Ring Energy (REI)

For those that want to dial up the risk-reward factor for their best affordable stocks to buy, Ring Energy (NYSEAMERICAN:REI) could be ideal for extreme speculators. Featuring operations in Texas and New Mexico, Ring Energy is an oil and gas exploration, development and production company. Presently, Ring carries a market cap of nearly $375 million. Since the start of the year, REI slipped 14%.

Financially, Ring Energy is a tough call. For example, Gurufocus warns that it’s a possible value trap. Over the past three years, both its revenue and EBITDA growth rates slipped into negative territory. Now, that’s on a per-share basis. In nominal terms, revenue jumped from $113 million in 2020 to $347.3 million last year. Also in that span, EBITDA went from $198.8 million in the red to $226 million in the black. Currently, the market prices REI at a tangible book value of 0.5 times, which appears a steal. Also, it prices shares at 4.83-times free cash flow (FCF), ranking better than 67.93% of the competition. On a final note, Alliance Global Partners believes REI can hit $4. If so, this target would imply upside of over 108%, making it one of the high potential stocks under $10.

On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.