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 rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.

One company value investors might notice is Eldorado Gold (EGO Quick QuoteEGO - Free Report) . EGO 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 10.66 right now. For comparison, its industry sports an average P/E of 13.49. Over the last 12 months, EGO's Forward P/E has been as high as 16.24 and as low as 7.84, with a median of 10.95.

We also note that EGO holds a PEG ratio of 0.31. 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. EGO's PEG compares to its industry's average PEG of 0.47. Within the past year, EGO's PEG has been as high as 1.33 and as low as 0.26, with a median of 0.31.

Another notable valuation metric for EGO is its P/B ratio of 1.11. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This company's current P/B looks solid when compared to its industry's average P/B of 1.78. Over the past year, EGO's P/B has been as high as 1.11 and as low as 0.71, with a median of 0.90.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. EGO has a P/S ratio of 3.06. This compares to its industry's average P/S of 3.33.

Finally, investors will want to recognize that EGO has a P/CF ratio of 7.55. This metric takes into account a company's operating cash flow and can be used to find stocks that are undervalued based on their solid cash outlook. EGO's current P/CF looks attractive when compared to its industry's average P/CF of 10.15. Over the past year, EGO's P/CF has been as high as 8.87 and as low as 5.08, with a median of 6.27.

Kinross Gold (KGC Quick QuoteKGC - Free Report) may be another strong Mining - Gold stock to add to your shortlist. KGC is a # 2 (Buy) stock with a Value grade of A.

Kinross Gold is currently trading with a Forward P/E ratio of 13.37 while its PEG ratio sits at 0.63. Both of the company's metrics compare favorably to its industry's average P/E of 13.49 and average PEG ratio of 0.47.

KGC's Forward P/E has been as high as 17.79 and as low as 10.27, with a median of 13.58. During the same time period, its PEG ratio has been as high as 0.98, as low as 0.32, with a median of 0.49.

Kinross Gold sports a P/B ratio of 2.59 as well; this compares to its industry's price-to-book ratio of 1.78. In the past 52 weeks, KGC's P/B has been as high as 2.63, as low as 1.45, with a median of 1.81.

These figures are just a handful of the metrics value investors tend to look at, but they help show that Eldorado Gold and Kinross Gold are likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, EGO and KGC feels like a great value stock at the moment.