U.S. Materials Healthy potentially undervalued

Constellium

Market Cap: US$4.0b

Engages in the design, manufacture, and sale of rolled and extruded aluminum products for the aerospace, packaging, automotive, commercial transportation, general industrial, and defense end-markets.

Commercial Metals

Market Cap: US$6.8b

Manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally.

Minerals Technologies

Market Cap: US$2.3b

Develops, produces, and markets various mineral, mineral-based products and services.

Ternium

Market Cap: US$8.2b

Manufactures and distributes steel products in Mexico, Southern Region, Brazil, and internationally.

H.B. Fuller

Market Cap: US$3.1b

H.B. Fuller Company, together with its subsidiaries, formulates, manufactures, and markets adhesives, sealants, coatings, polymers, tapes, encapsulants, additives, and other specialty chemical products.

Caledonia Mining

Market Cap: US$388.0m

Engages in the exploration, development, and production of gold in Zimbabwe.

CF Industries Holdings

Market Cap: US$17.0b

Engages in the production of ammonia in North America, Europe, and internationally.

Avery Dennison

Market Cap: US$12.8b

Operates as a materials science and digital identification solutions company in the North America, Europe, the Middle East, North Africa, Asia, and Latin America.

Agnico Eagle Mines

Market Cap: US$76.9b

A gold mining company, engages in the exploration, development, and production of precious metals.

Sylvamo

Market Cap: US$1.5b

Produces and markets uncoated freesheet for cutsize, offset paper, and pulp in Europe, Latin America, and North America.

ICL Group

Market Cap: US$6.5b

Operates as a specialty minerals and chemicals company worldwide.

Orion

Market Cap: US$323.7m

Engages in the manufacture and sale of carbon black products.

Avient

Market Cap: US$3.4b

Operates as a formulator of material solutions in the United States, Canada, Mexico, Europe, South America, and Asia.

PPG Industries

Market Cap: US$27.9b

Manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa.

AngloGold Ashanti

Market Cap: US$42.8b

Operates as a gold mining company in Africa, Australia, and the Americas.

LyondellBasell Industries

Market Cap: US$17.2b

Operates as a chemical company in the United States, Germany, China, Mexico, Italy, Japan, France, Poland, the Netherlands, and internationally.

International Paper

Market Cap: US$20.5b

Produces and sells renewable fiber-based packaging in North America, Latin America, Europe, South America, and North Africa.

Graphic Packaging Holding

Market Cap: US$3.2b

Engages in the design, production, and sale of consumer packaging products to brands in food, beverage, foodservice, household, and other consumer products in the Americas, Europe, and the Asia Pacific.

CRH

Market Cap: US$71.9b

Provides building materials solutions in Ireland, the United States, the United Kingdom, rest of Europe, and internationally.

Axalta Coating Systems

Market Cap: US$7.5b

Through its subsidiaries, manufactures, markets, and distributes high-performance coatings systems in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America.

USA Rare Earth

Market Cap: US$4.4b

Engages in mining, processing, and supplying rare earths and other critical minerals in the United States, Europe, and Asia.

Silgan Holdings

Market Cap: US$4.9b

Manufactures and sells rigid packaging solutions for consumer goods products in the United States and internationally.

RPM International

Market Cap: US$14.2b

Provides specialty chemicals for the construction, industrial, specialty, and consumer markets.

NioCorp Developments

Market Cap: US$690.1m

Engages in the exploration and development of mineral deposits in North America.

Nucor

Market Cap: US$50.3b

Engages in the manufacture and sale of steel and steel products.

Alcoa

Market Cap: US$12.8b

Engages in the bauxite mining, alumina refining, aluminum production, and energy generation business in Australia, Brazil, Canada, Iceland, Norway, Spain, the United States, and internationally.

Warrior Met Coal

Market Cap: US$4.3b

Engages in the production and export of non-thermal steelmaking coal for the steel production by metal manufacturers in Europe, South America, and Asia.

U.S. Gold

Market Cap: US$272.1m

Engages in the exploration, evaluation, and development of mineral properties in the United States.

Newmont

Market Cap: US$103.2b

Operates as a gold producer.

International Flavors & Fragrances

Market Cap: US$21.4b

Manufactures and markets food, beverage, health and biosciences, scent, and complementary adjacent products in the United States, and internationally.

Crown Holdings

Market Cap: US$12.5b

Engages in the packaging business in the United States and internationally.

LSB Industries

Market Cap: US$765.4m

Manufactures, markets, and sells chemical products in the United States.

Eagle Materials

Market Cap: US$6.8b

Through its subsidiaries, manufactures and sells heavy construction products and light building materials in the United States.

Coeur Mining

Market Cap: US$17.9b

Operates as a gold and silver producer in the United States, Canada, and Mexico.

Ball

Market Cap: US$16.9b

Supplies aluminum packaging products for the beverage, personal care, and household products industries in the United States, Brazil, and internationally.

Compañía de Minas BuenaventuraA

Market Cap: US$7.5b

Engages in the exploration, development, construction, and operation of mines in Peru, the Americas, Europe, and Asia.