U.S. Materials Potentially Undervalued Companies

Thor Explorations

Market Cap: US$831.6m

Operates as a gold producer and explorer.

Jaguar Mining

Market Cap: US$469.2m

A junior gold mining company, engages in the acquisition, exploration, development, and operation of gold mineral properties in Brazil.

Alphamin Resources

Market Cap: US$1.2b

Engages in the production and sale of tin concentrate.

Johnson Matthey

Market Cap: US$3.3b

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.

Companhia Siderúrgica Nacional

Market Cap: US$10.6b

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

Boliden

Market Cap: US$104.1b

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.

Steel Dynamics

Market Cap: US$20.1b

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

Grupo México. de

Market Cap: US$1.1t

Engages in copper production, cargo transportation, and infrastructure businesses worldwide.

Geodrill

Market Cap: US$162.7m

Provides mineral exploration drilling services to the mining companies in West Africa, Egypt, Chile, and Peru.

China Gold International Resources

Market Cap: US$9.5b

A gold and base metal mining company, acquires, explores, develops, and mines mineral resources in the People’s Republic of China and Canada.

Orbia Advance Corporation. de

Market Cap: US$31.1b

Orbia Advance Corporation, S.A.B. de C.V.

Rio Tinto Group

Market Cap: US$80.9b

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

O-I Glass

Market Cap: US$2.1b

Through its subsidiaries, engages in the manufacture and sale of glass containers to food and beverage manufacturers primarily in the Americas, Europe, and internationally.

Huntsman

Market Cap: US$1.6b

Manufactures and sells diversified organic chemical products worldwide.

Alcoa

Market Cap: US$8.2b

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.

K92 Mining

Market Cap: US$4.2b

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

Allied Gold

Market Cap: US$2.7b

Explores and produces mineral deposits in Africa.

Hudbay Minerals

Market Cap: US$7.4b

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

CEMEX. de

Market Cap: US$243.4b

Engages in the production, marketing, distribution, and sale of cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide.

Gerdau

Market Cap: US$32.7b

Operates as a steel producer company.

Fortescue

Market Cap: US$58.7b

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

Chemtrade Logistics Income Fund

Market Cap: US$1.5b

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

Norsk Hydro

Market Cap: US$132.9b

Engages in the power production, bauxite extraction, alumina refining, aluminium smelting, and recycling activities worldwide.

Clariant

Market Cap: US$2.5b

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

West African Resources

Market Cap: US$3.5b

Engages in the mining, mineral processing, acquisition, exploration, and project development of gold projects in West Africa.

CMOC Group

Market Cap: US$289.6b

Engages in the mining, dressing, and smelting of base and rare metals in China, Brazil, the Democratic Republic of the Congo, Switzerland, and internationally.

ERAMET

Market Cap: US$1.6b

Produces and sells manganese and nickel in France, Europe, North America, China, Other Asia, Oceania, Africa, South America, and internationally.

Sylvania Platinum

Market Cap: US$223.7m

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

Orezone Gold

Market Cap: US$836.9m

Engages in the mining, exploration, and development of gold properties.

Cementos PacasmayoA

Market Cap: US$2.0b

Produces, distributes, and sells cement and cement-related materials in Peru.

Ero Copper

Market Cap: US$2.5b

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

Ardagh Metal Packaging

Market Cap: US$2.3b

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

Rio Tinto Group

Market Cap: US$80.9b

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

Sappi

Market Cap: US$14.2b

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

BHP Group

Market Cap: US$204.3b

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

Commercial Metals

Market Cap: US$6.4b

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