5 Best Undervalued Stocks to Buy Now According to Reddit

4. ArcelorMittal (NYSE: MT)

Number of Hedge Fund Holders: 18

ArcelorMittal (NYSE: MT) is a Luxembourg-based multinational steel manufacturing firm. It is ranked fourth on our list of 10 best undervalued stocks to buy now according to Reddit. It was founded in 1976. Arcelor stock has returned more than 243% to investors over the course of the past twelve months. In addition to making and selling steel products, the firm has iron mining interests in Brazil, Bosnia, Canada, Kazakhstan, Liberia, Mexico, and Ukraine, as well as coal mining activities in Kazakhstan.

In earnings results for the first quarter of 2021, posted earlier this month, ArcelorMittal (NYSE: MT) reported earnings per share of $1.93 and a revenue of over $16 billion. The earnings per share beat market estimates by $0.36. 

At the end of the fourth quarter of 2020, 18 hedge funds in the database of Insider Monkey held stakes worth $511 million in ArcelorMittal (NYSE: MT), down from 20 in the preceding quarter worth $309 million.