U.S. Materials Potentially Undervalued Companies

Nippon Steel

Market Cap: US$3.3t

Engages in steelmaking and steel fabrication, engineering, chemicals and materials, and system solutions businesses in Japan and internationally.

Holcim

Market Cap: US$38.5b

Provides building materials and solutions worldwide.

Innospec

Market Cap: US$1.9b

Develops, manufactures, blends, markets, and supplies specialty chemicals in the Americas, Europe, the Middle East, Africa, and Asia-Pacific.

Thor Explorations

Market Cap: US$771.7m

Operates as a gold producer and explorer.

HEXPOL

Market Cap: US$28.1b

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.

Osisko Development

Market Cap: US$1.2b

Acquires, explores, and develops precious metals resource properties in Canada, Mexico, and the United States.

Solvay

Market Cap: US$2.9b

Provides basic and performance chemicals worldwide.

Sasol

Market Cap: US$77.2b

Operates as a chemical and energy company.

Sika

Market Cap: US$24.9b

A specialty chemicals company, develops, produces, and sells systems and products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle industry worldwide.

Sumitomo Chemical Company

Market Cap: US$761.4b

Engages in Agro & Life Solutions, ICT & Mobility Solutions, Advanced Medical Solutions, Essential & Green Materials, and Sumitomo Pharma.

Aurelia Metals

Market Cap: US$389.3m

Engages in the exploration and production of mineral properties in Australia.

Capital

Market Cap: US$228.2m

Provides drilling, mining, mineral assaying, and surveying services.

Nippon Paint Holdings

Market Cap: US$2.3t

Engages in the paints and fine chemicals businesses.

Nippon Paint Holdings

Market Cap: US$2.3t

Engages in the paints and fine chemicals businesses.

Gerdau

Market Cap: US$35.8b

Operates as a steel producer company.

Lithium Royalty

Market Cap: US$341.7m

Operates as a lithium-focused royalty company in Canada, the United States, Australia, Argentina, Brazil, and South America.

Centerra Gold

Market Cap: US$3.4b

Engages in the acquisition, exploration, development, and operation of gold and copper properties in North America, Turkey, and internationally.

Companhia Siderúrgica Nacional

Market Cap: US$11.4b

Operates as an integrated steel producer in Brazil and Latin America.

K92 Mining

Market Cap: US$4.7b

Engages in the exploration and development of mineral deposits in Papua New Guinea.

Yara International

Market Cap: US$95.1b

Provides crop nutrition and industrial solutions in Norway, European Union, Europe, Africa, Asia, North and Latin America, Australia, and New Zealand.

Orbia Advance Corporation. de

Market Cap: US$34.7b

Provides polymer solutions in the United States, Northwest Europe, Africa, the Middle East, Asia, Southwest Europe, Mexico, Brazil, Central and Eastern Europe, Colombia, Central America, Peru, Southeast Europe, Canada, Ecuador, Argentina, Chile, Israel, and internationally.

Hudbay Minerals

Market Cap: US$8.8b

A diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America.

Johnson Matthey

Market Cap: US$3.6b

Engages in the clean air, catalyst and hydrogen technology, and platinum group metals (PGM) service businesses in the United Kingdom, Germany, rest of Europe, the United States, rest of North America, China, rest of Asia, and internationally.

Rio Tinto Group

Market Cap: US$92.0b

Engages in exploring, mining, and processing mineral resources worldwide.

Boliden

Market Cap: US$122.1b

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.

Nucor

Market Cap: US$33.4b

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

FMC

Market Cap: US$1.7b

An agricultural sciences company, provides crop protection solutions to farmers in Latin America, North America, Europe, the Middle East, Africa, and Asia.

Steel Dynamics

Market Cap: US$22.7b

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

Sappi

Market Cap: US$14.0b

Engages in the provision of materials made from woodfiber-based renewable resources in Europe, North America, and South Africa.

Mercer International

Market Cap: US$115.0m

Manufactures and sells northern bleached softwood kraft (NBSK) and northern bleached hardwood kraft (NBHK) pulp in the United States, Germany, China, and internationally.

Ero Copper

Market Cap: US$3.2b

Engages in the exploration, development, and production of mining projects in Brazil.

Orion

Market Cap: US$274.0m

Engages in the manufacture and sale of carbon black products.

Ardagh Metal Packaging

Market Cap: US$2.2b

Operates as a metal beverage can company in Europe, the United States, and Brazil.

Sylvania Platinum

Market Cap: US$223.7m

Engages in the retreatment of platinum group metals (PGM) bearing chrome tailings materials in South Africa.

Clariant

Market Cap: US$2.3b

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

Andean Precious Metals

Market Cap: US$1.1b

Engages in the acquisition, exploration, development, and processing of mineral resource properties in the United States.