The key to investing success is to search for mispriced securities with strong fundamentals which they can buy for a discount.

For those looking to channel their inner Buffet, look no further, we have pulled three undervalued companies from Morningstar’s stock screener.

Newcrest Mining (ASX:NCM) 

The company recently expanded into Canada, acquiring the Brucejack operation adding to its 70% stake in the Red Chris copper-gold mine. Mills says that in addition to this expansion, Newcrest is also set to benefit from increased copper production over the next 10 years.

Newcrest shares are currently trading at $17.33, a 44% discount to Morningstar’s fair value of $31.00.

The five-star stock was included in the November edition of Morningstar’s Australia and New Zealand best stock ideas report.

Inghams Group (ASX:ING)

Inghams Group is a small cap company which falls within the consumer defensive sector. The company is the largest vertically interested poultry producer in Australia and New Zealand and owns 40% and 35% of market share in respective countries.

Morningstar equity analyst Angus Hewitt acknowledges the cost challenges the company faces amid price fluctuations in the global grains market which is beyond the control of Inghams. However, he forecasts feed cost to moderate as grain supply normalises over fiscal 2023.

He is also forecasting a 10% improvement in the companies underlying EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) in fiscal 2023 which reflects a 60-basis point increase in its EBITDA margin.

Hewitt maintains a positive long-term view on the poultry industry in Australia forecasting growth in the company’s profit driven by an increasing population and per-capita increases in chicken consumption.

In fact, according to Hewitt the company has already seen a recovery in the average sale price of products, with prices increasing approximately 7% from January 2022 to June.

Ingham shares are currently trading at $3.50, a 23% discount to Morningstar’s fair value of $3.50.

Ansell Limited (ASX:ANN)

Healthcare company Ansell is involved in the development, manufacturing, sourcing, distribution and sae of gloves and protective personal equipment in industrial and medical markets. The company’s revenue is split between two major business segments, industrial and healthcare products which contributes 40% and 60% to overall revenue respectively.

Morningstar equity analyst Shane Ponraj believes that since the company’s restructuring which began in 2014, Ansell is now in better operational shape armed with a clear strategy focusing on key brands and innovation.

He believes Ansell’s stock price which is trading at a discount to its Morningstar fair value is reflective of a market which remains cautious about new firms competing with the companies more differentiated products as well as the company’s ability to pass through inflationary cost pressures.

However, Ponraj maintains a positive view on both of the markets concerns.

“We remain positive on both issues, with fiscal 2022 volumes for Ansell’s differentiated single-use