U.S. Materials Undervalued based on future growth

Mosaic

Market Cap: US$8.0b

Through its subsidiaries, produces and markets concentrated phosphate and potash crop nutrients.

Sylvamo

Market Cap: US$1.5b

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

McEwen

Market Cap: US$1.1b

Engages in the exploration, development, production, and sale of gold and silver deposits in the United States, Canada, Mexico, and Argentina.

Koppers Holdings

Market Cap: US$730.8m

Provides treated wood products, wood preservation chemicals, and carbon compounds in the United States, Australasia, Europe, and internationally.

Caledonia Mining

Market Cap: US$431.1m

Primarily operates a gold mine in Jersey.

Alto Ingredients

Market Cap: US$333.1m

Produces, distributes, and markets specialty alcohols, renewable fuel, and essential ingredients in the United States.

Core Molding Technologies

Market Cap: US$178.9m

Operates as a molder of thermoplastic and thermoset structural products in the United States, Mexico, Canada, and internationally.

Flexible Solutions International

Market Cap: US$66.7m

Develops, manufactures, and markets specialty chemicals that slow the evaporation of water in Canada, the United States, and internationally.