5 Most Undervalued Value Stocks To Buy Now

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

PE Ratio as of October 21 (TTM): 2.42

Number of Hedge Fund Holders: 29

Cleveland–Cliffs Inc. (NYSE:CLF) is a mining company that produces iron ore pellets, lumps, and fines in the United States. At the end of Q2 2022, 29 hedge funds were bullish on Cleveland-Cliffs Inc. (NYSE:CLF) and held stakes worth roughly $451 million in the company. As of June 30, Fisher Asset Management is the most prominent investor in Cleveland-Cliffs Inc. (NYSE:CLF) and has stakes of approximately $167 million in the company.

Shares of Cleveland-Cliffs Inc. (NYSE:CLF) have pulled back in 2022 and are now presenting an attractive opportunity for investors to buy into weakness. As of October 21, the stock is trading at a PE multiple of 2x and is ranked high among the best undervalued stocks to buy now. Cleveland-Cliffs Inc. (NYSE:CLF) is cash-rich and has a track record for profitability. The company has free cash flows of over $3 billion and has a trailing twelve-month operating margin of 21%.

Wall Street is bullish on Cleveland-Cliffs Inc. (NYSE:CLF). On October 6, Goldman Sachs analyst Emily Chieng revised her price target on Cleveland-Cliffs Inc. (NYSE:CLF) to $19 from $23 and reiterated a Buy rating on the shares.

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