Global Materials Potentially Undervalued Companies

ArcelorMittal

Market Cap: €23.9b

Operates as integrated steel and mining companies in the Americas, Europe, Asia, and Africa.

Covestro

Market Cap: €11.0b

Supplies high-tech polymer materials and application solutions.

Darma Henwa

Market Cap: €11.3t

Engages in mining support and other excavation activities, and machine repair for special purposes in Indonesia.

Kenmare Resources

Market Cap: UK£278.8m

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

Ivanhoe Mines

Market Cap: US$19.1b

Engages in the mining, development, and exploration of minerals and precious metals in Africa.

IZOBLOK

Market Cap: zł33.7m

Provides expanded polypropylene (EPP) components to the automotive industry worldwide.

Inmocemento

Market Cap: €1.6b

Inmocemento S.A., through its subsidiaries, engages in the real estate and cement businesses.

Denarius Metals

Market Cap: CA$69.3m

Engages in the acquisition, exploration, development, and operation of mineral properties in Spain and Colombia.

Steel Dynamics

Market Cap: €20.6b

Operates as a steel producer and metal recycler in the United States.

Ferroglobe

Market Cap: €804.4m

Produces and sells silicon metal, and silicon and manganese-based ferroalloys in the United States, Europe, and internationally.

Mathios Refractories

Market Cap: €9.7m

Develops, manufactures, and sells refractory products and lining solutions in Greece, Other European Union, and internationally.

Thai O.P.P

Market Cap: ฿816.0m

Manufactures and distributes plastic films, stickers, laminate tubes, and packaging products in Thailand.

5E Advanced Materials

Market Cap: €82.1m

An exploration stage company, engages in the exploration and development of mineral properties in the United States.

K+S

Market Cap: €2.1b

Operates as a supplier of mineral products for the agricultural, industrial, consumer, and community sectors in Europe, the United States, Asia, Africa, and Oceania.

Lenzing

Market Cap: US$979.0m

Produces and markets regenerated cellulosic fibers for textiles and nonwovens.

Soma Gold

Market Cap: CA$147.8m

A natural resource company, engages in the acquisition, exploration, and development of mineral properties in Columbia.

Grupa Kety

Market Cap: €9.1b

Through its subsidiaries, manufactures and sells aluminum profiles and components in Poland and internationally.

Grigeo Group

Market Cap: €139.3m

Operates in the paper and wood industry in Lithuania.

Progressive Planet Solutions

Market Cap: €34.0m

Primarily engages in the acquisition and exploration of mineral properties in Canada and the United States.

Voltage Metals

Market Cap: €1.1m

Engages in the acquisition, exploration, and development of mineral property interests in Canada.

FPX Nickel

Market Cap: US$110.2m

A junior nickel mining company, engages in the acquisition, exploration, and development of mineral resource properties in Canada.

Denarius Metals

Market Cap: US$69.3m

Engages in the acquisition, exploration, development, and operation of mineral properties in Spain and Colombia.

Steel Pipe Industry of Indonesia

Market Cap: €3.2t

Together with its subsidiary, PT Spindo Engineering Industry, manufactures and sells steel pipes/tubes and other related products in Indonesia and internationally.

Amrize

Market Cap: CHF 20.8b

Focuses on building materials business in North America.

Sephaku Holdings

Market Cap: R340.7m

Operates as a construction materials company in South Africa.

Aneka Tambang

Market Cap: €77.1t

Operates as a diversified metals and mining company in Indonesia.

Viohalco

Market Cap: €1.9b

Through its subsidiaries, manufactures, and sells aluminium, copper, cables, and steel and steel pipe products.

Madoro Metals

Market Cap: €1.8m

Engages in the acquisition, exploration, and development of mineral properties in Mexico.

PTT Global Chemical

Market Cap: €118.4b

Operates as a chemical company in Thailand and internationally.

Sherritt International

Market Cap: CA$67.0m

Engages in the mining, processing, refining, and sale of nickel and cobalt in North America, Cuba, Europe, Asia, Australia, and internationally.

Minera IRL

Market Cap: €5.3m

Engages in the exploration, development, and operation of mines in Peru.

Boliden

Market Cap: SEK 97.0b

Engages in the extracting, producing, and recycling of base metals in Sweden, Finland, other Nordic region, Germany, the United Kingdom, Europe, North America, and internationally.

Grupa Azoty

Market Cap: zł2.2b

Manufactures and sells fertilizers, plastics, and other chemicals in Poland, Germany, South America, Asia, other European Union countries, and internationally.

TFF Group

Market Cap: €535.5m

Manufactures and distributes barrels and wood products for the aging of wines and alcohols in France, rest of Europe, the United States, Asia, and internationally.

Applied DB

Market Cap: ฿871.2m

Manufactures and distributes plastic compounds in Thailand, India, and internationally.

Crown SIEM

Market Cap: XOF 17.6b

Crown SIEM SA engages in packaging activities and produces metal cans, that includes cans for pineapple, tuna, fruit, juice, coffee, aerosols and insecticides.