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.

Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

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 B2Gold Corp (BTG). BTG is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock is trading with a P/E ratio of 6.75, which compares to its industry's average of 14.27. Over the past 52 weeks, BTG's Forward P/E has been as high as 11.45 and as low as 5.54, with a median of 7.39.

Investors should also note that BTG holds a PEG ratio of 0.26. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. BTG's industry has an average PEG of 0.51 right now. Over the past 52 weeks, BTG's PEG has been as high as 1.60 and as low as 0.22, with a median of 0.32.

Investors should also recognize that BTG has a P/B ratio of 1.30. 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 1.99. Within the past 52 weeks, BTG's P/B has been as high as 1.48 and as low as 0.82, with a median of 1.09.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. BTG has a P/S ratio of 2.04. This compares to its industry's average P/S of 3.36.

New Gold (NGD) may be another strong Mining - Gold stock to add to your shortlist. NGD is a # 2 (Buy) stock with a Value grade of A.

New Gold is trading at a forward earnings multiple of 8.04 at the moment, with a PEG ratio of 0.25. This compares to its industry's average P/E of 14.27 and average PEG ratio of 0.51.

NGD's price-to-earnings ratio has been as high as 17.74 and as low as 6.98, with a median of 11.39, while its PEG ratio has been as high as 0.75 and as low as 0.22, with a median of 0.29, all within the past year.

Furthermore, New Gold holds a P/B ratio of 2.91 and its industry's price-to-book ratio is 1.99. NGD's P/B has been as high as 2.99, as low as 1.18, with a median of 2.04 over the past 12 months.

These are just a handful of the figures considered in B2Gold Corp and New Gold'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 BTG and NGD is an impressive value stock right now.

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This article originally published on Zacks Investment Research (zacks.com).

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