5 Best Cheap Stocks To Buy According To Billionaire Dalio

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In this article, we discuss the 5 best cheap stocks to buy according to billionaire Dalio. If you want to see more cheap stocks in Dalio’s portfolio, go to the 11 Best Cheap Stocks To Buy According To Billionaire Dalio.

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

Stock Price: $13.98

Ray Dalio’s Bridgewater Associates’ Holdings: $11.46 million

Percentage of Ray Dalio’s Bridgewater Associates’ Portfolio: 0.05%

Number of Hedge Fund Holders: 29

Cleveland-Cliffs Inc. (NYSE:CLF) is an Ohio-based integrated steel producer that has the distinction of being the biggest manufacturer of flat-rolled steel in North America.

Cleveland-Cliffs Inc. (NYSE:CLF) is working on becoming more sustainable as it intends to lower its carbon emissions by 25% by the end of this decade. In a research note issued to investors on September 28, David Coleman at Argus assigned Cleveland-Cliffs Inc. (NYSE:CLF) stock a target price of $23 with a Buy rating. The analyst highlighted that the company’s stock price had declined substantially due to the weak economic outlook causing metal prices to plummet globally. However, despite the grim outlook, Coleman sees solid profitability for Cleveland-Cliffs Inc. (NYSE:CLF) in 2023.

Analysts think Cleveland-Cliffs Inc. (NYSE:CLF) is trading at a discount to its fair value and should be valued around at least 7x NTM EBITDA. This would translate into a market capitalization of $14.9 billion, 90% higher than the current levels. The company’s fundamentals have made it one of the best cheap stocks in Dalio’s Q2 portfolio.

Of the 895 hedge funds in Insider Monkey’s database, 29 funds held a stake in Cleveland-Cliffs Inc. (NYSE:CLF) as of Q2 2022.

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