Investors looking for stocks in the Mining - Miscellaneous sector might want to consider either SSR Mining (SSRM) or BHP (BHP). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.

The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.

Currently, SSR Mining has a Zacks Rank of #2 (Buy), while BHP has a Zacks Rank of #5 (Strong Sell). Investors should feel comfortable knowing that SSRM likely has seen a stronger improvement to its earnings outlook than BHP has recently. But this is just one factor that value investors are interested in.

Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.

The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.

SSRM currently has a forward P/E ratio of 10.27, while BHP has a forward P/E of 12.40. We also note that SSRM has a PEG ratio of 0.58. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. BHP currently has a PEG ratio of 4.13.

Another notable valuation metric for SSRM is its P/B ratio of 0.28. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, BHP has a P/B of 3.14.

Based on these metrics and many more, SSRM holds a Value grade of A, while BHP has a Value grade of C.

SSRM is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. And, based on the above valuation metrics, we feel that SSRM is likely the superior value option right now.

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