U.S. Materials Potentially Undervalued Companies

CF Industries Holdings

Market Cap: US$12.2b

Engages in the manufacture and sale of hydrogen and nitrogen products for energy, fertilizer, emissions abatement, and other industrial activities in North America, Europe, and internationally.

Zijin Mining Group

Market Cap: US$472.4b

A mining company, engages in the exploration, mining, processing, refining, and sale of gold, non-ferrous metals, and other mineral resources in Mainland China and internationally.

Taseko Mines

Market Cap: US$863.8m

A mining company, acquires, develops, and operates mineral properties.

ATI

Market Cap: US$6.6b

Produces and sells specialty materials and complex components worldwide.

OceanaGold

Market Cap: US$3.5b

A gold and copper producer, engages in exploration, development, and operation of mineral properties in the United States, the Philippines, and New Zealand.

Eastman Chemical

Market Cap: US$9.0b

Operates as a specialty materials company in the United States, China, and internationally.

Shin-Etsu Chemical

Market Cap: US$7.7t

Provides infrastructure, electronics, and functional materials in Japan.

Greif

Market Cap: US$2.6b

Engages in the production and sale of industrial packaging products and services worldwide.

Tronox Holdings

Market Cap: US$826.0m

Operates as a vertically integrated manufacturer of TiO2 pigment in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific.

Air Products and Chemicals

Market Cap: US$59.8b

Provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally.

Steel Dynamics

Market Cap: US$18.0b

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

Nucor

Market Cap: US$25.6b

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

Sylvamo

Market Cap: US$2.4b

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

CCL Industries

Market Cap: US$12.0b

Manufactures and sells labels, consumer printable media products, technology-driven label solutions, polymer banknote substrates, and specialty films.

BHP Group

Market Cap: US$179.7b

Operates as a resources company in Australia, Europe, China, Japan, India, South Korea, the rest of Asia, North America, South America, and internationally.

Chemtrade Logistics Income Fund

Market Cap: US$1.1b

Offers industrial chemicals and services in Canada, the United States, and South America.

Warrior Met Coal

Market Cap: US$2.5b

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

Amcor

Market Cap: US$13.5b

Develops, produces, and sells packaging products in Europe, North America, Latin America, and the Asia Pacific.

PPG Industries

Market Cap: US$22.9b

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

Avient

Market Cap: US$2.8b

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

Minerals Technologies

Market Cap: US$1.8b

Develops, produces, and markets various mineral, mineral-based, and related systems and services.

Cascades

Market Cap: US$951.5m

Produces, converts, and markets packaging and tissue products in Canada and the United States.

Century Aluminum

Market Cap: US$1.4b

Produces and sells standard-grade and value-added primary aluminum products in the United States and Iceland.

Axalta Coating Systems

Market Cap: US$6.7b

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.

Scotts Miracle-Gro

Market Cap: US$2.9b

Engages in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally.

Neo Performance Materials

Market Cap: US$367.6m

Engages in the manufacture and sale of rare earth, magnetic powders, magnets, and rare metal-based functional materials in China, Japan, Thailand, South Korea, North America, Europe, and internationally.

Interfor

Market Cap: US$716.8m

Produces and sells wood products in Canada, the United States, Japan, China, Taiwan, and internationally.

Graphic Packaging Holding

Market Cap: US$7.4b

Designs, produces, and sells consumer packaging products to brands in food, beverage, foodservice, household, and other consumer products in the Americas, Europe, and the Asia Pacific.

Orica

Market Cap: US$7.4b

Manufactures, distributes, and sells commercial blasting systems, explosives, mining and tunnelling support systems, and various chemical products and services in Australia, Peru, Canada, the United States, and internationally.

Nissan Chemical

Market Cap: US$546.6b

Engages in the chemicals, performance materials, agricultural chemicals, and pharmaceuticals businesses in Japan and internationally.

AMG Critical Materials

Market Cap: US$436.9m

Develops, produces, and sells energy storage materials.

Kemira Oyj

Market Cap: US$2.9b

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

GCC. de

Market Cap: US$56.4b

Through its subsidiaries, produces, distributes, and sells gray Portland cement, ready-mix concrete, aggregates, and other building construction materials in Mexico and the United States.

Lenzing

Market Cap: US$940.4m

Produces and markets regenerated cellulosic fibers for textiles and nonwovens.

Major Drilling Group International

Market Cap: US$635.1m

Provides contract drilling services to mining and mineral exploration companies in the United States, Canada, South and Central America, Australasia, and Africa.

Fortescue

Market Cap: US$46.3b

Engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally.