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.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

One stock to keep an eye on is Equinox Gold (EQX). EQX is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock is trading with P/E ratio of 5.43 right now. For comparison, its industry sports an average P/E of 14.57. EQX's Forward P/E has been as high as 28.96 and as low as -191.15, with a median of 9.48, all within the past year.

We should also highlight that EQX has a P/B ratio of 0.66. 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. This stock's P/B looks solid versus its industry's average P/B of 1.27. Within the past 52 weeks, EQX's P/B has been as high as 1.04 and as low as 0.52, with a median of 0.75.

Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. This is a prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. EQX has a P/S ratio of 1.85. This compares to its industry's average P/S of 2.65.

Finally, our model also underscores that EQX has a P/CF ratio of 4.73. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. This company's current P/CF looks solid when compared to its industry's average P/CF of 12.22. Over the past 52 weeks, EQX's P/CF has been as high as 11.44 and as low as 4.73, with a median of 5.84.

Value investors will likely look at more than just these metrics, but the above data helps show that Equinox Gold is likely undervalued currently. And when considering the strength of its earnings outlook, EQX sticks out at as one of the market's strongest value stocks.

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