In this article, we discuss 5 best value stocks to buy according to Robert Bishop’s Impala Asset Management. If you want to see more value stocks in Bishop’s portfolio, click 10 Best Value Stocks to Buy According to Robert Bishop’s Impala Asset Management.
5. Cleveland-Cliffs Inc. (NYSE:CLF)
Number of Hedge Fund Holders: 48
P/E Ratio as of May 25: 3.31
Cleveland-Cliffs Inc. (NYSE:CLF) was founded in 1847 and is headquartered in Cleveland, Ohio. The company operates as a flat-rolled steel producer in North America. Cleveland-Cliffs Inc. (NYSE:CLF) is a new arrival in Robert Bishop’s Q1 portfolio, with his hedge fund buying 821,906 shares worth $26.4 million.
On April 22, Cleveland-Cliffs Inc. (NYSE:CLF) reported earnings for the first quarter of 2022. The company announced an EPS of $1.27, beating market estimates by $0.07. The $5.96 billion revenue jumped 47.07% year-over-year, topping analysts’ predictions by $528.91 million.
Riley analyst Lucas Pipes raised the price target on Cleveland-Cliffs Inc. (NYSE:CLF) on April 25 to $47 from $46 and maintained a Buy rating on the shares after the “strong” Q1 results and updated 2022 guidance.
According to Insider Monkey’s first quarter data, 48 hedge funds were bullish on Cleveland-Cliffs Inc. (NYSE:CLF), up from 36 funds in the last quarter. Ken Fisher’s Fisher Asset Management is the largest shareholder of the company, with more than 11 million shares worth $356.3 million.
4. Teck Resources Limited (NYSE:TECK)
Number of Hedge Fund Holders: 56
P/E Ratio as of May 25: 6.88
With a price to earnings ratio of 6.88, Teck Resources Limited (NYSE:TECK) is one of the best value stocks to buy according to Robert Bishop’s Impala Asset Management. Teck Resources Limited (NYSE:TECK) is a Canadian company that produces natural resources in Asia, Europe, and North America, operating through Steelmaking Coal, Copper, Zinc, Energy, and Corporate segments.
Securities filings for Q1 2022 reveal that Robert Bishop’s hedge fund added Teck Resources Limited (NYSE:TECK) to its portfolio by purchasing 800,000 shares worth $32.3 million. The stock represents 2.78% of the total 13F holdings.
On April 27, Teck Resources Limited (NYSE:TECK) reported financial results for Q1 2022. The company posted earnings per share of $2.31, beating market estimates by $0.06. The revenue grew about 90% year-over-year to $3.93 billion, outperforming Street forecasts by $16.10 million.
CIBC analyst Bryce Adams on May 2 raised the price target on Teck Resources Limited (NYSE:TECK) to C$52 from C$50 and kept a Neutral rating on the shares.
According to Insider Monkey’s first quarter database, 56 hedge funds were bullish on Teck Resources Limited (NYSE:TECK), up from 40 funds in the last quarter. Eric W. Mandelblatt’s Soroban Capital Partners is the largest shareholder of the company, with 12.25 million shares worth $495.16 million.
3. Ero Copper Corp. (NYSE:ERO)
Number of Hedge Fund Holders: 10
P/E Ratio as of May 25: 5.08
Ero Copper Corp. (NYSE:ERO) was incorporated in 2016 and is headquartered in Vancouver, Canada. It is a base metals mining company, engaged in the exploration and development of mining projects in Brazil. Robert Bishop’s Impala Asset Management boosted its stake in Ero Copper Corp. (NYSE:ERO) by 15%, holding 2.30 million shares worth $33.8 million.
On May 11, TD Securities analyst Craig Hutchison lowered the price target on Ero Copper Corp. (NYSE:ERO) to C$23 from C$25 and kept a Buy rating on the shares.
Ero Copper Corp. (NYSE:ERO) posted earnings for Q1 2022 on May 9, reporting Q1 non-GAAP earnings per share of $0.36. The revenue of $108.9 million outperformed estimates by $1.66 million. In FY2022, copper production is presently expected to be at the upper-end of the guidance range of 43,000 – 46,000 tonnes.
Among the hedge funds tracked by Insider Monkey, 10 funds were bullish on Ero Copper Corp. (NYSE:ERO) at the end of Q1 2022, compared to 8 funds in the earlier quarter. Ari Zweiman’s 683 Capital Partners is a prominent shareholder of the company, with 1.5 million shares worth $22.3 million.
2. Danaos Corporation (NYSE:DAC)
Number of Hedge Fund Holders: 20
P/E Ratio as of May 25: 1.55
Danaos Corporation (NYSE:DAC) operates containerships in Australia, Asia, Europe, and the United States. The company on May 16 declared a $0.75 per share quarterly dividend, in line with previous. The dividend is payable on June 8, to shareholders of record on May 27. The company’s dividend yield on May 25 stood at 3.67%.
On May 16, Danaos Corporation (NYSE:DAC) reported its Q1 results, posting earnings per share of $11.36, beating market consensus by $5.22. The revenue grew 74% year-over-year to $229.90 million, outperforming analysts’ predictions by $30.90 million.
Among the hedge funds tracked by Insider Monkey, Danaos Corporation (NYSE:DAC) was part of 20 public hedge fund portfolios at the end of Q1 2022, with collective stakes worth $211.8 million. Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital is one of the leading shareholders of the company, with 361,198 shares worth $37 million.
1. Harley-Davidson, Inc. (NYSE:HOG)
Number of Hedge Fund Holders: 29
P/E Ratio as of May 25: 8.48
Harley-Davidson, Inc. (NYSE:HOG) is an American manufacturer of motorcycles and related merchandise and accessories. Harley-Davidson, Inc. (NYSE:HOG) is the largest holding in Robert Bishop’s Impala Asset Management portfolio. The hedge fund owns 2.7 million shares of the company as of Q1 2022, worth $107.7 million, representing 9.29% of the total securities.
Harley-Davidson, Inc. (NYSE:HOG) declared on May 13 a $0.1575 per share quarterly dividend, in line with previous. The dividend is payable on June 17, to shareholders of the company as of June 2.
On May 24, BofA analyst Robert Ohmes maintained his Buy rating and a $70 price target on Harley-Davidson, Inc. (NYSE:HOG) but slashed his Q2 shipments estimate by approximately 9,000 units to account for the recent two-week factory shutdown. The analyst added that Harley-Davidson, Inc. (NYSE:HOG) should be able to offset the lost production in the second half of the year.
Among the hedge funds tracked by Insider Monkey, 29 funds were long Harley-Davidson, Inc. (NYSE:HOG) at the end of March 2022, compared to 32 funds in the prior quarter. Rehan Jaffer’s H Partners Management is the largest shareholder of the company, with 12.60 million shares worth $496.4 million.
You can also take a look at 10 Tech Stocks to Buy Now According to Robert Pitts’ Steadfast Capital and Top 10 Small-Cap Stocks Added to Billionaire Mario Gabelli’s Portfolio.
