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To find attractive growth opportunities in the mid-cap level, an obvious place to start your search is to look specifically for companies that have EPS growth rates of over 25%. Mid cap stocks tend to be less risky than small-cap stocks, but have plenty of room to grow, especially those with substantial projections. Today, we have a list of basic material stocks of this nature that are on a fast track to expansion and also appear to be trading below perceived market value. We think you will find our list rather interesting.

EPS growth (earnings per share growth) illustrates the growth of earnings per share over time. The 1-Year Expected EPS Growth Rate is an annual growth estimate, where the growth projections are made by analysts, the company or other credible sources.

The Price/Sales ratio is a price-multiple valuation metric used to help identify if a firm is cheap by its twelve month trailing sales numbers. In the most basic terms, it lets an investor know how much the investment community is willing to pay for every dollars worth of sales. A firm with a P/S ratio of one or lower would be viewed as cheap because investors are paying $1 or less for every dollars worth of a firm's sales. On the other hand, a firm is generally considered to be expensive when the P/S ratio is above three. To be clear, these are general guidelines used by the investment community, not hard rules.

Price/Sales Ratio = Current Stock Price/Revenue (sales) per Share

The forward P/E is a price multiple valuation metric, which is similar to the current P/E ratio, except that it uses the forecasted earnings instead. While this number might not be as accurate because it uses "forecasted" numbers, it does offer the benefit of illustrating analysts' expectations of a firm. If the market believes that earnings will grow moving forward, then the forward P/E should be lower than the current P/E. Financial Leverage, also known as the Equity Multiplier, illustrates how a firm is financing its assets. The lower the number, the more a firm is financing its assets internally through stockholder equity. The higher this metric is, the more the firm is relying on debt to finance its assets.

We first looked for mid cap basic materials stocks. We next screened for businesses with estimated high-growth, with 1-year projected EPS growth above 25%. Then, we screened for businesses that are trading at a discount (P/S<1)(forward P/E<10).

Do you think these mid-cap stocks have more value to price in? Use our screened list as a starting point for your own analysis.

1) Mechel OAO (NYSE:MTL)

:SectorBasic Materials
:IndustrySteel Iron

Mechel OAO has a 1-Year Projected Earnings Per Share Growth Rate of 86.81%, a Price/Sales Ratio of 0.22, and a Forward Price/Earnings Ratio of 3.95. The short interest was 7.51% as of 08/17/2012. Mechel OAO, through its subsidiaries, operates as a mining and steel company in the Russian Federation and internationally. The company operates in four segments: Mining, Steel, Ferroalloys, and Power. The Mining segment produces and sells coking and steam coal, metallurgical coal, coke, coking products, iron ore and iron ore concentrate, and limestone.

2) United States Steel Corp. (NYSE:X)

:SectorBasic Materials
:IndustrySteel Iron

United States Steel Corp. has a 1-Year Projected Earnings Per Share Growth Rate of 79.74%, a Price/Sales Ratio of 0.16, and a Forward Price/Earnings Ratio of 8.27. The short interest was 25.90% as of 08/17/2012. United States Steel Corporation engages in the production and sale of steel mill products in North America and Europe. The company operates in three segments: Flat-rolled Products (Flat-rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular).

3) Walter Energy, Inc. (NYSE:WLT)

:SectorBasic Materials
:IndustryIndustrial & Metals Minerals

Walter Energy, Inc. has a 1-Year Projected Earnings Per Share Growth Rate of 88.26%, a Price/Sales Ratio of 0.86, and a Forward Price/Earnings Ratio of 6.99. The short interest was 5.52% as of 08/17/2012. Walter Energy, Inc. produces and exports metallurgical coal for the steel industry primarily in the United States. The company also produces thermal and industrial coal, anthracite, metallurgical coke, coal bed methane gas, and other related products. It principally serves electric utility and industrial customers.

4) Steel Dynamics Inc. (NASDAQ:STLD)

:SectorBasic Materials
:IndustrySteel Iron

Steel Dynamics Inc. has a 1-Year Projected Earnings Per Share Growth Rate of 68.97%, a Price/Sales Ratio of 0.37, and a Forward Price/Earnings Ratio of 8.90. The short interest was 3.65% as of 08/17/2012. Steel Dynamics, Inc., together with its subsidiaries, engages in the manufacture and sale of steel products in the United States and internationally. The company operates in three segments: Steel Operations, Metals Recycling and Ferrous Resources Operations, and Steel Fabrication Operations. The Steel Operations segment provides a range of sheet steel products, including hot rolled, cold rolled, and coated steel products; structural steel beams, pilings, and rails; special bar quality and merchant bar quality rounds and round-cornered squares; billets and merchant steel products comprising angles, plain rounds, flats, and channels; and merchant beams and specialty structural steel sections.

5) Peabody Energy Corp. (NYSE:BTU)

:SectorBasic Materials
:IndustryIndustrial & Metals Minerals

Peabody Energy Corp. has a 1-Year Projected Earnings Per Share Growth Rate of 25.60%, a Price/Sales Ratio of 0.73, and a Forward Price/Earnings Ratio of 8.60. The short interest was 6.76% as of 08/17/2012. Peabody Energy Corporation engages in the mining of coal. It mines, prepares, and sells thermal coal to electric utilities and metallurgical coal to industrial customers. The company owns interests in 30 coal mining operations located in the United States and Australia, as well as a joint venture interest in a Venezuela mine.

*Company profiles were sourced from Google Finance and Yahoo Finance. Financial data was sourced from Finviz.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.