5 Cheap Value Stocks to Buy for 2022

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1. Cleveland-Cliffs Inc. (NYSE:CLF)

P/E Ratio: 5.20

Price as of December 9: $21.17

Number of Hedge Fund Holders: 35

Cleveland-Cliffs Inc. (NYSE:CLF) is one of the best cheap value stocks to buy for 2022 according to the smart money, with 35 hedge funds monitored by the database of Insider Monkey owning positions in the company, with total stakes valued at $682 million as of Q3 2021. Jeffrey Gendell’s Tontine Asset Management is one of the leading Cleveland-Cliffs Inc. (NYSE:CLF) stakeholders, with a $148.9 million stake in the company in the third quarter. 

Cleveland-Cliffs Inc. (NYSE:CLF) is a mining company from Ohio, producing iron ore pellets, direct reduced iron, steel, and stainless steel. 

Cleveland-Cliffs Inc. (NYSE:CLF) reported third quarter earnings on October 22. EPS in the period totaled $2.35, surpassing estimates by $0.12. The Q3 revenue jumped 264.76% to $6 billion, outperforming estimates by $370.29 million. 

Wolfe Research analyst Timna Tanners initiated coverage of Cleveland-Cliffs Inc. (NYSE:CLF) on November 16 with an Outperform rating and a $30 price target, even though Tanners has a cautious view on steel prices and believes the market is experiencing a surplus supply of steel. 

You can also take a look at 11 Best High Dividend Stocks Under $50 and 11 Best American Stocks To Buy Now.

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