Global Materials Undervalued over 20% based on DCF

Imerys

Market Cap: €1.8b

Engages in the supply of specialty minerals for various industries across Europe, the Middle East, Africa, Asia Pacific, and America.

Group of Companies Segezha

Market Cap: ₽127.9b

Group of Companies Segezha Public Joint Stock Company operates in the forestry industry in Russia and internationally.

LINTEC

Market Cap: JP¥331.3b

Manufactures and sells adhesive-related products in Japan.

Denka

Market Cap: JP¥328.5b

Manufactures and sells organic and inorganic, electronic material, pharmaceutical, and resin-related products in Japan, rest of Asia, and internationally.

Kazan Organichesky sintez

Market Cap: ₽125.0b

Kazan Public Joint Stock Company Organichesky sintez, together with its subsidiaries, produces and sells chemical products in Russia.

Robertet

Market Cap: €1.7b

Produces and sells perfumes, aromas, and natural products.

Elkem

Market Cap: NOK 18.5b

Engages in the provision of advanced material solutions worldwide.

Jinhong GasLtd

Market Cap: CN¥13.2b

Produces and sells bulk, special, and natural gas products in China.

EMSTEEL Building Materials PJSC

Market Cap: د.إ7.1b

Engages in the operation, trading, and investing in industrial projects and commercial businesses involved in the building materials and steel sectors in the United Arab Emirates.

SigmaRoc

Market Cap: UK£1.4b

Through its subsidiaries, invests in and/or acquires projects in the quarried materials sector.

Anhui Jinhe IndustrialLtd

Market Cap: CN¥13.0b

Engages in the research and development, production, and sales of food additives, daily chemical flavors, bulk chemicals, and intermediates.

Tata Chemicals

Market Cap: ₹175.8b

Manufactures, markets, sells, and distributes basic chemistry and specialty products in India, rest of Asia, Africa, Europe, the United Kingdom, the Americas, and internationally.

Gränges

Market Cap: SEK 17.4b

Engages in the development, production, and distribution of rolled aluminum products in the Americas, Asia, and Europe.

Borregaard

Market Cap: NOK 17.7b

Engages in the development, production, and marketing of specialized biochemicals and biomaterials in Norway, rest of Europe, Asia, the United States, and internationally.

Americas Gold and Silver

Market Cap: CA$2.5b

Engages in the exploration, development, and production of mineral properties in the Americas.

BBMG Jidong Cement Group

Market Cap: CN¥12.5b

Engages in the production and sale of cement clinker, silicate cement, and related building material products in China.

Solvac

Market Cap: €1.6b

Operates as a specialty chemicals company in Belgium.

Shougang Fushan Resources Group

Market Cap: HK$14.0b

An investment holding company, engages in the business of coking coal mining and production and sales of coking coal products in the People's Republic of China.

Worthington Steel

Market Cap: US$1.8b

Operates as a steel processor in North America.

National Industrialization

Market Cap: ر.س6.6b

Operates in the petrochemicals, chemicals, metals, wires, and industrial and automotive batteries sectors in the Kingdom of Saudi Arabia, rest of the Middle East, Asia, Africa, Europe, and internationally.

Wuxi Paike New Materials TechnologyLtd

Market Cap: CN¥11.7b

Wuxi Paike New Materials Technology Co.,Ltd.

RHI Magnesita

Market Cap: UK£1.3b

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

Sylvamo

Market Cap: US$1.7b

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

Kolon Industries

Market Cap: ₩2.5t

Engages in industrial materials, chemicals, films/electronic materials, and fashion businesses in South Korea and internationally.

TIMAH

Market Cap: Rp27.9t

Engages in tin mining and smelting operations in Indonesia and internationally.

Jain Resource Recycling

Market Cap: ₹147.3b

Engages in the manufacture and export of non-ferrous metal products by way of recycling of non-ferrous metal scrap.

Hankuk Carbon

Market Cap: ₩2.3t

Produces and sells carbon fiber, synthetic resin, and glass paper related products in South Korea.

Ecovyst

Market Cap: US$1.5b

Offers virgin and regenerated sulfuric acid products and services in the United States and internationally.

Shenzhen Noposion Crop Science

Market Cap: CN¥10.3b

Researches and develops, manufactures, distributes, and provides technical services for pesticides and fertilizers in China and internationally.

Breedon Group

Market Cap: UK£1.1b

Engages in the quarrying, manufacture, and sale of construction materials and building products in the Great Britain, Ireland, and the United States.

Deepak Fertilisers And Petrochemicals

Market Cap: ₹137.4b

Engages in the manufacture, trade, and sale of bulk chemicals in India.

Osaka Soda

Market Cap: JP¥232.9b

Manufactures and sells basic and functional chemicals products in Asia, Europe, North America, and internationally.

Tronox Holdings

Market Cap: US$1.4b

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.

Shiny Chemical Industrial

Market Cap: NT$45.6b

Engages in manufacturing, processing, and trading of chemical solvents in Taiwan and internationally.

Nan Pao Resins Chemical

Market Cap: NT$44.1b

Engages in the manufacturing, wholesale, and retail sale of synthetic resins and plastics, adhesives, resin coatings, dyes, and pigments in Taiwan, rest of Asia, Oceania, Europe, Africa, and America.

Fujimi

Market Cap: JP¥220.5b

Manufactures and sells synthetic precision abrasives in Japan, North America, Asia, and Europe.