Global Materials Undervalued over 20% based on DCF

Zhejiang Great SoutheastLtd

Market Cap: CN¥5.4b

Engages in production and sales of plastic films and plastic products in China and internationally.

Indocement Tunggal Prakarsa

Market Cap: Rp14.4t

Manufactures and sells cement products in Indonesia and internationally.

AECI

Market Cap: R12.9b

Provides products and services for mining, water treatment, plant and animal health, food and beverage, manufacturing, and general industrial sectors.

Maeda Kosen

Market Cap: JP¥123.4b

Engages in the manufacture and sale of civil engineering materials, building materials, and non-woven fabrics in Japan.

Indian Metals and Ferro Alloys

Market Cap: ₹72.2b

Engages in the production and sale of ferro chrome in India and internationally.

Ramaco Resources

Market Cap: US$750.5m

Engages in the development, operation, and sale of metallurgical coal.

SP Group

Market Cap: DKK 4.9b

Manufactures and sells moulded plastic and composite components in Denmark, rest of Europe, the Americas, Asia, the Middle East, Australia, and Africa.

Darma Henwa

Market Cap: Rp13.5t

Engages in the mining support and other excavation activities, and metal fabrication products in Indonesia.

Amerigo Resources

Market Cap: CA$1.1b

Through its subsidiary, Minera Valle Central S.A., produces copper and molybdenum concentrates from Corporación Nacional del Cobre de Chile’s El Teniente mine in Chile.

Riyadh Cement

Market Cap: ر.س2.7b

Produces and sells cement in the Kingdom of Saudi Arabia, the Kingdom of Bahrain, the State of Iraq, State of Yemen, the Hashemite Kingdom of Jordan, and the Sultanate of Oman.

Zignago Vetro

Market Cap: €629.3m

Produces, markets, and sells glass containers in Italy, Europe, and internationally.

Valqua

Market Cap: JP¥115.9b

Designs, manufactures, processes, and sells fiber, fluorocarbon resin, rubber, and other materials in Japan and internationally.

Hanil Cement

Market Cap: ₩1.1t

Operates as a cement company in South Korea.

Griffin Mining

Market Cap: UK£526.2m

A mining and investment company, engages in the mining, exploration, and development of mineral properties.

SunCoke Energy

Market Cap: US$690.7m

Operates as an independent producer of coke in the United States and internationally.

DKS

Market Cap: JP¥111.8b

Engages in the production and sale of surfactants, other industrial chemicals, and life sciences-related products in Japan and internationally.

Shanghai Yaohua Pilkington Glass Group

Market Cap: CN¥4.6b

Shanghai Yaohua Pilkington Glass Group Co., Ltd.

ENCE Energía y Celulosa

Market Cap: €585.3m

Produces and sells hardwood pulp and renewable energy in Spain, Germany, Poland, Italy, the Netherlands, the United Kingdom, Greece, France, Turkey, and internationally.

EPC Groupe

Market Cap: €584.5m

Engages in the manufacture, storage, and distribution of explosives in Europe, Africa, Asia Pacific, and the Americas.

Shandong Ruifeng Chemical

Market Cap: CN¥4.5b

Manufactures and sells PVC additives in China and internationally.

Sanyo Chemical Industries

Market Cap: JP¥106.6b

Manufactures and sells chemical products in Japan.

Philex Mining

Market Cap: ₱40.4b

Engages in the exploration, development, and utilization of mineral resources in the Philippines.

Anglo Asian Mining

Market Cap: UK£474.5m

Engages in the exploration and production of assets in Azerbaijan.

Batiçim Bati Anadolu Çimento Sanayii Anonim Sirketi

Market Cap: ₺29.8b

Operates in the cement industry in Turkey and internationally.

Zhejiang Rongsheng Environmental Protection Paper

Market Cap: CN¥4.3b

Zhejiang Rongsheng Environmental Protection Paper Co., Ltd.

China Catalyst Holding

Market Cap: CN¥4.1b

Engages in the research and development, production, and sale of zeolite catalyst, customized process package solutions, and fine chemicals in China and internationally.

Guangdong Tianan New Material

Market Cap: CN¥4.0b

Research and development, design, production, and sales of building ceramics and polymer composite finishing material in China and internationally.

Prism Johnson

Market Cap: ₹56.4b

An integrated building materials company, manufactures and sells cement, tiles, and ready-mixed concrete in India and internationally.

Qifeng New Material

Market Cap: CN¥4.0b

Engages in the research, development, production, and sales of high-grade decorative base paper in China and internationally.

OSAKA Titanium technologiesLtd

Market Cap: JP¥94.9b

Manufactures and sells titanium products in Japan, the United States of America, China, and internationally.

Corporacion Aceros Arequipa

Market Cap: S/1.9b

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

AdvanSix

Market Cap: US$552.1m

AdvanSix Inc., integrated chemistry company, engages in the manufacture and sale of polymer resins in the United States and internationally.

SAMPYO Cement

Market Cap: ₩827.7b

Engages in the manufacture and distribution of cement in South Korea.

Allied Supreme

Market Cap: NT$17.4b

Manufactures and sells fluoropolymer resin in China, America, and Taiwan.

LafargeHolcim Bangladesh

Market Cap: ৳64.9b

Manufactures and markets building materials in Bangladesh and internationally.

Amaroq

Market Cap: US$519.6m

Engages in the acquisition, exploration, and development of mineral properties in Greenland.