U.K. Materials Potentially Undervalued Companies

Pan African Resources

Market Cap: UK£2.6b

Engages in the mining, extraction, production, and sale of gold in South Africa.

Victrex

Market Cap: UK£469.2m

Through its subsidiaries, engages in the manufacture and sale of polymer solutions worldwide.

Huhtamäki Oyj

Market Cap: €2.9b

Provides packaging solutions in the United States, Germany, the United Kingdom, India, Turkey, Australia, Thailand, Poland, South Africa, Spain, Finland, and internationally.

Axalta Coating Systems

Market Cap: US$5.4b

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.

AMG Critical Materials

Market Cap: €1.0b

Develops, produces, and sells energy storage materials in the United States, China, Germany, France, Japan, Brazil, Africa, and internationally.

Clariant

Market Cap: CHF 3.6b

Develops, manufactures, distributes, and sells specialty chemicals in Switzerland, Europe, the Middle East, Africa, the United States, and the Asia Pacific.

CPH Group

Market Cap: CHF 371.7m

Develops, manufactures, and distributes chemical products and packaging solutions for pharmaceutical customers in Europe, Asia, and North and South America.

Mosaic

Market Cap: US$7.5b

Through its subsidiaries, produces and markets concentrated phosphate and potash crop nutrients.

Vidrala

Market Cap: €2.5b

Engages in the manufacture and sale of glass containers for food and beverage products in the United Kingdom, Ireland, Italy, Iberian Peninsula, rest of Europe, and Brazil.

Navigator Company

Market Cap: €2.3b

Manufactures and markets pulp and paper products worldwide.

Gränges

Market Cap: SEK 14.7b

Engages in the development, production, and distribution of rolled aluminum products in the Americas, Asia, and Europe.

Wesdome Gold Mines

Market Cap: CA$3.3b

Wesdome Gold Mines Ltd. mines, develops, and explores for gold and silver deposits in Canada.

B2Gold

Market Cap: CA$7.2b

Operates as a gold producer company in Canada.

Breedon Group

Market Cap: UK£1.1b

Engages in the quarrying, manufacture, and sale of construction materials and building products primarily in the United Kingdom and internationally.

Zotefoams

Market Cap: UK£172.7m

Manufactures, distributes, and sells polyolefin foams in the United Kingdom, rest of Europe, North America, and internationally.

Atalaya Mining Copper

Market Cap: UK£1.1b

Engages in the mineral exploration and development in Spain.

SSR Mining

Market Cap: CA$6.4b

Engages in the acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina.

Stora Enso Oyj

Market Cap: €7.5b

Provides renewable solutions for the packaging, biomaterials, wooden constructions, and paper industries in Finland and internationally.

PPG Industries

Market Cap: US$21.8b

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

Akzo Nobel

Market Cap: €8.2b

Produces and sells paints and coatings worldwide.

Akzo Nobel

Market Cap: €8.2b

Produces and sells paints and coatings worldwide.

Crown Holdings

Market Cap: US$11.0b

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

Atalaya Mining Copper

Market Cap: UK£1.1b

Engages in the mineral exploration and development in Spain.

Kemira Oyj

Market Cap: €2.7b

Operates as a chemicals company in Finland, rest of Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

Zotefoams

Market Cap: UK£172.7m

Manufactures, distributes, and sells polyolefin foams in the United Kingdom, rest of Europe, North America, and internationally.

Breedon Group

Market Cap: UK£1.1b

Engages in the quarrying, manufacture, and sale of construction materials and building products primarily in the United Kingdom and internationally.

Fortuna Mining

Market Cap: CA$3.6b

Engages in the precious and base metal mining and related activities in Argentina, Côte d’Ivoire, Mexico, Peru, and Senegal.

Groupe Guillin

Market Cap: €392.8m

Produces and sells food packaging products in France, the United Kingdom, Italy, and internationally.

Michelmersh Brick Holdings

Market Cap: UK£66.9m

Together its subsidiaries, manufactures and sells bricks and brick prefabricated products in the United Kingdom and rest of Europe.

Pan African Resources

Market Cap: UK£2.6b

Engages in the mining, extraction, production, and sale of gold in South Africa.

HEXPOL

Market Cap: SEK 23.6b

Develops, manufactures, and sells various polymer compounds and engineered gaskets, seals, and wheels in Sweden, rest of Europe, the United States, rest of the Americas, and Asia.

Robertet

Market Cap: €1.5b

Produces and sells perfumes, aromas, and natural products.

Torex Gold Resources

Market Cap: CA$5.2b

A mineral exploration company, engages in the acquisition, exploration, and development of mineral properties in Mexico and the United States.

Petropavlovsk

Market Cap: UK£47.5m

Petropavlovsk PLC operates as a gold mining company in the Far East of Russia.

Kenmare Resources

Market Cap: UK£172.9m

Engages in the production and sale of mineral sand products in China, rest of Asia, Europe, the United States, and internationally.

Huhtamäki Oyj

Market Cap: €2.9b

Provides packaging solutions in the United States, Germany, the United Kingdom, India, Turkey, Australia, Thailand, Poland, South Africa, Spain, Finland, and internationally.