5 Best Value Stocks to Buy in 2023 According to Billionaire Mario Gabelli

In this article, we discuss 5 best value stocks to buy in 2023 according to billionaire Mario Gabelli. If you want to see more stocks in this selection, check out 10 Best Value Stocks to Buy in 2023 According to Billionaire Mario Gabelli. 

5. Gold Fields Limited (NYSE:GFI)

Stake Value of GAMCO Investors: $771,228

Number of Hedge Fund Holders: 12

Gold Fields Limited (NYSE:GFI) is a South African gold production company that possesses reserves and resources in Chile, South Africa, Ghana, West Africa, Australia, and Peru. In addition to its gold operations, the company is involved in the exploration of copper deposits. In Q1 2023, Mario Gabelli added Gold Fields Limited (NYSE:GFI) to his portfolio by acquiring 57,900 shares worth $771,228. It is one of the best value stocks to invest in according to the billionaire. 

On May 3, HSBC analyst Leroy Mnguni downgraded Gold Fields to Reduce from Hold and adjusted the price target to ZAR 220, an increase from ZAR 209. The analyst highlighted that the South African gold miners, including Gold Fields Limited (NYSE:GFI), have exhibited better performance compared to their peers and are currently trading at higher valuation multiples. Consequently, the analyst no longer perceives Gold Fields Limited (NYSE:GFI) as being attractively priced. The downgrade of Gold Fields Limited (NYSE:GFI) is influenced by the recent outperformance of the gold sector as a whole.

According to Insider Monkey’s first quarter database, Gold Fields Limited (NYSE:GFI) was part of 12 hedge fund portfolios, compared to 17 funds in the prior quarter. William B. Gray’s Orbis Investment Management is the largest stakeholder of the company. 

Here is what Baron Funds specifically said about Gold Fields Limited (NYSE:GFI) in its Q2 2022 investor letter:

“Gold Fields Limited (NYSE:GFI) is an established gold producer based in South Africa with a diversified global portfolio of precious metals assets. Shares fell due to the pullback in gold prices and the company’s announced acquisition of gold producer Yamana Gold at a large premium. We are positive on gold prices and expect continuous improvements in Gold Fields’ cash costs. We expect at least 50% production growth over the next decade as the company ramps up volumes, including Yamana’s high quality development projects in Chile, Canada, and Brazil.”