Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

One company value investors might notice is Gold Fields Limited (GFI). GFI is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock has a Forward P/E ratio of 9.07. This compares to its industry's average Forward P/E of 13.58. Over the past 52 weeks, GFI's Forward P/E has been as high as 14.68 and as low as 6.76, with a median of 9.70.

Investors will also notice that GFI has a PEG ratio of 0.34. 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. GFI's PEG compares to its industry's average PEG of 0.46. Over the past 52 weeks, GFI's PEG has been as high as 2.36 and as low as 0.34, with a median of 0.81.

These are just a handful of the figures considered in Gold Fields Limited's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that GFI is an impressive value stock right now.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Gold Fields Limited (GFI) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research