Penny stocks are one way to double your money, but they're fraught with risk. There are equally shiny -- and far more stable -- opportunities trading at the other end of the price spectrum. I call 'em "three-digit stocks," yet if they're anything like Berkshire Hathaway, they can trade in the four-, five-, and six-digit range, too.

penny stock might not be a good buy simply because it's cheap, and a three-digit stock shouldn't scare you away just because it carries a hefty price tag. Handsome is as handsome does. Let's check in with the Motley Fool CAPS community to see which of the high-priced stocks below earn the greatest confidence from our investor-intelligence database:

Stock

CAPS Rating 
(out of 5)

3-Digit Price

Return on Capital, TTM

CF Industries (NYSE: CF)

****

$116.37

9.3%

POSCO (NYSE: PKX)

****

$114.47

5.8%

Wynn Resorts (Nasdaq: WYNN)

*

$102.36

4.1%

Source: CapitalIQ, a division of Standard & Poor's; Motley Fool CAPS.

But just because these stocks are purring is no reason to jump into them blindly. Catching a tiger by the tail -- or a knife falling from on high -- can end up leaving you scratched and bleeding. That's why we recommend you use this list as a launch pad for your own research and analysis.

Highfalutin' honeys
As the world's third-largest steel producer -- behind ArcelorMittal and China's Baosteel -- POSCO is something of an industry bellwether. If its earnings are any indication, the industry's not looking too good right now. The South Korean steel giant was able to raise prices in the third quarter by as much as 32%, but that wasn't enough to offset soaring raw-materials costs. Iron ore doubled in the second quarter and was up another 21% in the third, while coal rose 77% and 6%, respectively.

While POSCO's revenue jumped 7% sequentially, operating income fell 40%, and net profits were off 13%. POSCO's shares took a hit on the news, but the next quarter likely won't be any better, since material costs will remain high. But come the first quarter of 2011, POSCO should benefit as additional supply comes on line, which ought to cause prices to drop. Today's lower share price might just give investors a chance to realize higher values later.

Earlier this summer, CAPS member athenamike picked POSCO as a well-managed, undervalued steelmaker:

POSCO is one of the most efficient steel manufacturers in the world, especially in higher end products like stainless steel. Added to this, its geographic location and future expansion plans allow for continued growth for many years to come. With 12.5% free cash flows to equity, over the full cycle, and double digit growth prospects, POSCO's returns look good from its current price of around $93.

Let us know on the POSCO CAPS page whether you think the steel giant will once again end up testing those prices.

Not so rough
The commodities "crisis" that ate into POSCO's profits will likely cause CF Industries' earnings to grow.

Along with PotashCorp (NYSE: POT) and Monsanto (NYSE: MON), CF and pretty much the entire agricultural-chemicals industry are benefiting from reports that corn industry yields in particular would be lower. That means higher prices, which mean higher production, which in turn will mean more sales of fertilizer.

That helps explain why mining giant BHP Billiton is pursuing PotashCorp. But while corn, wheat, and soybeans are all moving higher, we're also seeing gold, oil, and (unfortunately for POSCO) iron ore prices rise, too. The entire world now feels pricing pressure from the emerging economies of China and India.

With 97% of the CAPS members who've rated CF Industries giving the company a thumbs-up, it seems they're wagering that its momentum won't let up anytime soon. Let us know in the comments section below or on the CF Industries CAPS page whether you think this is still a heady opportunity.

Triple-digit titans
Wynn Resorts is also enjoying better times, after reports revealed that gambling revenue in Las Vegas has improved. August revenue for casinos on the Las Vegas Strip surged more than 21% to $544 million, boosting the prospects of Sin City-based casino operators like MGM Resorts (NYSE: MGM) and even Boyd Gaming (NYSE: BYD). The troubled gambling house is up 13% over the past week.

Yet if you want to take a gamble on Wynn Resorts, CAPS member JimVanMeerten says you shouldn't ignore its Macau operations:

It would be a major mistake to only think of Wynn as a Las Vegas property and a main target of Prez Obama's Nevada hit list. Fully 60% of their revenue comes from their properties in Macau and the newly rich and super rich of the Asian realm are flocking there in major numbers. The revenue at the Macau property doubled year over year and seemed to have double digit month over month growth rates projected.

Asia is recovering faster than the rest of the world and Macau is prospering.

You can stay on top of Wynn Resorts by adding it to your My Watchlist page, where we'll aggregate all our Foolish news and analysis on the company just for you.

Count to 10
These three-digit stocks might be on their way to even higher valuations. That's why it pays to start your own research in Motley Fool CAPS. Read a company's financial reports, scrutinize key data and charts, and examine the comments your fellow investors have made, all from a stock's CAPS page.

Berkshire Hathaway is a Motley Fool Inside Value pick and a a Motley Fool Stock Advisor recommendation. Monsanto is a former Motley Fool Inside Value pick. Motley Fool Options has recommended a synthetic long position on Monsanto. The Fool owns shares of Berkshire Hathaway. Try any of our Foolish newsletter services free for 30 days.

True to its name, The Motley Fool is made up of a motley assortment of writers and analysts, each with a unique perspective; sometimes we agree, sometimes we disagree, but we all believe in the power of learning from each other through our Foolish community. The Motley Fool has a disclosure policy.

Fool contributor Rich Duprey does not have a financial position in any of the stocks mentioned in this article. You can see his holdings here. The Motley Fool has a disclosure policy.