U.K. Undervalued based on future growth

Land Securities Group

Market Cap: UK£4.5b

We identify and shape places that create opportunity, enhance quality of life, and bring joy to the people connected to them.

JD Sports Fashion

Market Cap: UK£4.1b

Engages in the retail of branded sports fashion and outdoor clothing, footwear, accessories, and equipment for women and men in the United Kingdom, Europe, North America, the Asia Pacific, and internationally.

Lion Finance Group

Market Cap: UK£3.9b

Through its subsidiaries, provides banking and financial services with focus on the Georgian and Armenian markets.

Hochschild Mining

Market Cap: UK£2.6b

A precious metals company, engages in the exploration, mining, processing, and sale of gold and silver deposits in Peru, Argentina, the United Kingdom, Canada, Brazil, and Chile.

Shawbrook Group

Market Cap: UK£2.5b

Through its subsidiary, Shawbrook Bank Limited, provides lending and savings products and services to private and business customers in the United Kingdom.

Man Group

Market Cap: UK£2.5b

Man Group Limited is a publicly owned investment manager.

Pan African Resources

Market Cap: UK£2.5b

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

TBC Bank Group

Market Cap: UK£2.2b

Through its subsidiaries, provides banking, leasing, insurance, brokerage, and card processing services to corporate and individual customers in Georgia, Azerbaijan, and Uzbekistan.

Energean

Market Cap: UK£1.6b

Engages in the exploration, production, and development of oil and gas.

Wizz Air Holdings

Market Cap: UK£1.3b

Engages in the provision of passenger air transportation services in Europe, Iceland, Liechtenstein, Norway, and Switzerland, the United Kingdom, and Other European countries.

RHI Magnesita

Market Cap: UK£1.3b

Develops, produces, sells, installs, and maintains refractory products and systems used in industrial high-temperature processes worldwide.

Vesuvius

Market Cap: UK£964.1m

Provides molten metal flow engineering and technology services to steel and foundry casting industries worldwide.

Metro Bank Holdings

Market Cap: UK£814.7m

Operates as the bank holding company for Metro Bank PLC that provides business, commercial, retail and private banking products and services in the United Kingdom.

Morgan Advanced Materials

Market Cap: UK£598.9m

Manufactures and sells various carbon and ceramic products.

Harworth Group

Market Cap: UK£530.1m

Operates as a land and property regeneration company in the North of England and the Midlands.

Foresight Group Holdings

Market Cap: UK£488.1m

Operates as an infrastructure and private equity manager in the United Kingdom, Italy, Luxembourg, Ireland, Spain, and Australia.

Rank Group

Market Cap: UK£471.6m

Engages in provision of gaming services in the United Kingdom, Europe, and internationally.

Capita

Market Cap: UK£450.4m

Operates an outsourcer that supports clients across the public and private sectors in the United Kingdom and rest of Europe.

DFS Furniture

Market Cap: UK£396.3m

Designs, manufactures, delivers, installs, and retails upholstered furniture in the United Kingdom and the Republic of Ireland.

Funding Circle Holdings

Market Cap: UK£384.7m

Provides online lending platforms in the United Kingdom and internationally.

AltynGold

Market Cap: UK£352.6m

Engages in the exploration and development of gold producing mine in the Republic of Kazakhstan.

On the Beach Group

Market Cap: UK£331.1m

Operates as an online retailer of short haul beach holidays under the On the Beach brand name in the United Kingdom.

Central Asia Metals

Market Cap: UK£318.5m

Operates as a base metals producer.

Next 15 Group

Market Cap: UK£314.4m

Next 15 Group plc, together with its subsidiaries, customer insight, customer delivery, customer engagement, and business transformation services in the United Kingdom, Africa, the United States, Europe, Middle East, and Africa.

PayPoint

Market Cap: UK£294.4m

Engages in the provision of payments and banking, shopping, and e-commerce services and products in the United Kingdom.

Sylvania Platinum

Market Cap: UK£275.7m

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

Essentra

Market Cap: UK£274.0m

Engages in the manufacturing and distribution of plastic injection moulded, vinyl dip moulded, and metal items in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

Norcros

Market Cap: UK£267.3m

Designs and supplies bathroom and kitchen products in the United Kingdom, Ireland, and South Africa.

Ashtead Technology Holdings

Market Cap: UK£253.2m

Provides subsea equipment rental solutions for the offshore energy sector in Europe, the Americas, the Asia-Pacific, and the Middle East.

ACG Metals

Market Cap: UK£252.7m

Produces gold and silver in Turkey.

MJ Gleeson

Market Cap: UK£242.3m

Engages in house building, and land promotion and sale businesses in the United Kingdom.

S&U

Market Cap: UK£239.4m

Provides motor, property bridging, and specialist finance services in the United Kingdom.

Serabi Gold

Market Cap: UK£227.2m

Engages in the evaluation, exploration, and development of gold and other metals mining projects in Brazil.

Gulf Marine Services

Market Cap: UK£216.4m

Operates self-propelled self-elevating support vessels (SESVs) in the United Arab Emirates, the Kingdom of Saudi Arabia, Qatar, and Europe.

Secure Trust Bank

Market Cap: UK£209.1m

Provides banking and financial products and services in the United Kingdom.

Vp

Market Cap: UK£207.0m

Provides equipment rental and related services in the United Kingdom and internationally.