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Stocks trading with favorable valuations are always a good bet to outperform the market, as many value fund managers over the decades have shown us. Here are some I brought up recently that had some great dividends, along with other large-cap stocks here that are great values as well. However, world demographics show that there is likely to be stronger growth abroad than in the States, as the so call BRIC (Brazil, Russia, India, and China) countries continue to flourish. Moreover, as they continue to build their middle class and wealth, Europe looks to have real depressed expectations and most likely better times ahead in select companies, as some of them are priced really cheaply. Below are companies I found that seem enticing.

Petroleo Brasileiro S.A. (PBR) primarily engages in oil and natural gas exploration and production, refining, trade, and transportation businesses. This energy giant is trading at a reasonable 16x trailing price/earnings, great comparable profit and operating margins of 17% and 20% respectively, and great exposure to the relatively strong Brazilian market. While I'd like for the dividend yield to be higher, this energy name is trading right near lows, and I have confidence in its management reinvesting earnings wisely into energy exploration and discoveries.

Telefonica (TEF) doesn't get any help being based in Spain, and being associated as one of the PIIGS (Portugal, Ireland, Italy, Greece and Spain) countries in need of a bailout. However, this telecommunications stock is trading at levels last seen during the mega-crisis of 2008, and there's some true value here when we see it trading at .9x price/sales, a forward 8x price/earnings, 5x EV/EBITDA, and 11.6% dividend yield supported by approximately $10.5B in FCF this past year. I think this is a buy here as the company has proven to have a stable revenue base and great management team.

France Telecom (FTE) may not be one of the PIIGS, but it still is indirectly affected as being a part of the European Union, and the market has punished this company mercilessly. Trading at .7x price/sales, 10x price/earnings and approximate 12% dividend yield supported by close to $9B in FCF this past year, this telecommunications giant is trading right near its multi-year low. I believe it is a great buy.

Arcelor Mittal (MT) is the largest steel manufacturer in the world, based out of Luxembourg. It has significant insider ownership by the very well-respected Mittal family management team, and in my opinion is beautifully run. Moreover, the valuations are really compelling when trading at .3x price/sales, trailing 12x price/earnings, 8x forward price/earnings, .5x price/book, and a respectable 3.4% dividend yield. I think the steel maker, sitting right near its multi-year low, is a buy here.

Posco (PKX) is a large steel manufacturer based in South Korea. It's had Berkshire Hathaway (NYSE:BRK.A) as an investor in years past, and currently has Third avenue, Dimensional Fund Advisors, and Mohnish Pabrai among many other great value investors. The valuations look nice trading at .1x price/sales, 7x price/earnings, and .2x price/book, however it has a rather small 1% dividend yield. Nevertheless,considering its cheap valuations, I think it's a safe buy.

Potash (POT), based out of Canada, is a massive producer of its namesake-- potash fertilizer. As world population and prosperity grows, people need to eat, and that's where this company benefits. This is not for the typical value investor, trading at just over 4x price/sales and price/book, and 13x price/earnings. However, the company is showing strong revenue growth, achieving over 50% year-over-year and looking to continue as potash prices remain strong. I think the recent drop has provided a nice entry point.

Silver Wheaton (SLW) based out of Vancouver, is a very large silver-oriented stock with little mining risk by operating as a silver streaming company. Very wisely securing many of those contracts years ago at the $3-$4/oz. range has become very profitable for the company, as silver is trading north of $30. Of course, this has been reflected in the stock over the years since going public at the $3 range to its most recent high near $48. However, the stock has come down as silver has dropped. Long-term, silver still looks promising with the declining value in the dollar. The stock looks nice now at under 20x trailing price/earnings, 13x forward price/earnings, and a decent 1.1% growing dividend yield.

Source: 7 Stocks To Benefit From World Demographics