5 Best Undervalued Stocks to Buy Now According to Reddit

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

Number of Hedge Fund Holders: 27

Cleveland-Cliffs Inc. (NYSE: CLF) is an Ohio-based company that mines iron and markets steel products. It was founded in 1847 and is ranked third on our list of 10 best undervalued stocks to buy now according to Reddit. Cleveland stock has returned more than 297% to investors over the past year. The firm makes and sells various steel products to automotive, infrastructure, and manufacturing markets. The stock of the firm has soared in recent weeks in anticipation of increased government spending on infrastructure. 

On May 4, investment advisory Credit Suisse upgraded Cleveland-Cliffs Inc. (NYSE: CLF) stock to Outperform from Underperform with a price target of $24. CLF stock surged over 7% after the ratings update. 

Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Cleveland-Cliffs Inc. (NYSE: CLF)  with 13 million shares worth more than $262 million.