5 Best Value Stocks to Buy According to Robert Bishop’s Impala Asset Management

In this article, we discuss 5 best value stocks to buy according to Robert Bishop’s Impala Asset Management. If you want to see more value stocks in Bishop’s portfolio, click 10 Best Value Stocks to Buy According to Robert Bishop’s Impala Asset Management. 

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

Number of Hedge Fund Holders: 48

P/E Ratio as of May 25: 3.31

Cleveland-Cliffs Inc. (NYSE:CLF) was founded in 1847 and is headquartered in Cleveland, Ohio. The company operates as a flat-rolled steel producer in North America. Cleveland-Cliffs Inc. (NYSE:CLF) is a new arrival in Robert Bishop’s Q1 portfolio, with his hedge fund buying 821,906 shares worth $26.4 million. 

On April 22, Cleveland-Cliffs Inc. (NYSE:CLF) reported earnings for the first quarter of 2022. The company announced an EPS of $1.27, beating market estimates by $0.07. The $5.96 billion revenue jumped 47.07% year-over-year, topping analysts’ predictions by $528.91 million. 

Riley analyst Lucas Pipes raised the price target on Cleveland-Cliffs Inc. (NYSE:CLF) on April 25 to $47 from $46 and maintained a Buy rating on the shares after the “strong” Q1 results and updated 2022 guidance. 

According to Insider Monkey’s first quarter data, 48 hedge funds were bullish on Cleveland-Cliffs Inc. (NYSE:CLF), up from 36 funds in the last quarter. Ken Fisher’s Fisher Asset Management is the largest shareholder of the company, with more than 11 million shares worth $356.3 million.