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The FTSE 250 rose a good 8% in 2025. Mixed with a dividend yield above 3%, buyers in a tracker fund would have loved a fairly tasty return.
However some UK mid-cap shares smashed the returns delivered by the broader index. Take Atalaya Mining (LSE:ATYM), Lion Finance (LSE:BGEO) and Utilized Vitamin (LSE:APN). They delivered share value good points of 80% and past over the course of final yr.
Nonetheless, can they repeat the gorgeous returns of final yr? Can they supply even larger good points? Let’s have a look.
Copper growth
A bumper yr for copper costs helped Atalaya Mining shares rise 124% final yr. The pink metallic struck new peaks above $12,000 a tonne in the direction of the top of December, and additional good points look doubtless as provide points linger.
Wanting long run, I’m anticipating metallic values to maintain rising as demand from the tech sector will increase. The US’s choice to classify copper as a ‘critical mineral’ underlines its rising significance.
But Atalaya’s current success isn’t simply all the way down to a powerful copper value. It’s additionally carried out heroically in pulling the dear metallic out of the bottom. Between January and September 2025, manufacturing from its Spanish tasks rose 16%, whereas all-in sustaining prices (AISCs) dropped 13%, lighting a hearth underneath income.
The miner appears effectively arrange for additional good points within the New 12 months. Keep in mind although that surprising manufacturing setbacks may scupper any share value progress.
One other sturdy yr
Lion Finance’s share value nearly doubled in 2025, rising 95% over the yr. Political uncertainty, which stays a risk within the nation, hasn’t up to now derailed its spectacular income story.
Low product penetration and speedy financial development are supercharging earnings right here. The inventory — which till final yr was referred to as Financial institution of Georgia — recorded mortgage e-book and deposit development of 21.7% and 18% between January and September 2025.
Don’t assume that Lion Finance has been sitting on its palms although. Important funding in digital banking has helped it capitalise on the beneficial buying and selling setting, and it’s investing in different rising markets like Armenia to drive future development.
The World Financial institution expects Georgia’s financial system to develop 5.5% in 2026. This implies one other sturdy yr of income development for Lion Finance.
Gorgeous first yr
Utilized Vitamin’s share value exploded throughout its first full yr on the London inventory market. They leapt 82% in 2025, pushed by the corporate’s behavior of beating market expectations.
The enterprise — which manufactures protein shakes and different dietary merchandise — was at it once more in December, which bodes effectively transferring into the New 12 months. Final month it mentioned outcomes for the total yr “are more likely to exceed present market consensus estimates by roughly 10%.“
The dietary merchandise market is big and quickly rising. And Utilized Vitamin’s sturdy model recognition and offers with main supermarkets helps it seize this chance. In December, it inked a take care of Morrisons to let the grocery store produce and promote Utilized Vitamin-branded meals and different merchandise.
Gross sales may sluggish when financial circumstances worsen and shoppers really feel the pinch. However the FTSE 250 firm’s presence in 85 nations helps unfold this threat.
