The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.

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 a variety of methods, including tried-and-true valuation metrics, to find these stocks.

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 stock to keep an eye on is Nexa Resources (NEXA Quick QuoteNEXA - Free Report) . NEXA is currently sporting a Zacks Rank #1 (Strong Buy), as well as an A grade for Value. The stock has a Forward P/E ratio of 16.53. This compares to its industry's average Forward P/E of 16.67. Over the past 52 weeks, NEXA's Forward P/E has been as high as 21.50 and as low as -113.19, with a median of 11.97.

We also note that NEXA holds a PEG ratio of 0.71. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. NEXA's industry currently sports an average PEG of 1.03. NEXA's PEG has been as high as 0.76 and as low as 0.11, with a median of 0.39, all within the past year.

These are only a few of the key metrics included in Nexa Resources's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, NEXA looks like an impressive value stock at the moment.