Joy Global was up to 93.03 an increase of 4.36% on Wednesday January 25 with many analysts being much more positive about their views on the company. After reporting sluggish numbers in december, which saw the stock fall 11% in one day, many analysts seemed very reluctant to support the mining giant. Since this point, there have been positive signs in commodity demand, a main driver for Joy’s growth along with its purchase of International Mining Machinery Holding Ltd, which has given the company a stronghold in the Chinese mining industry. With a focus on mid tier mines that are mostly State owned, Joy believes it can see major growth in throughout China. With much of its revenue coming from outside of the United States, Joy Global is also benefiting heavily from the depletion of coal inventories throughout India, leading way to more mining.
Joy Global expects to see spending rise 10-15% throughout the 2012 year, with their drivers for growth to be in Chinese and Australia, iron ore in South America and Africa, and also copper in South America. This combined with the strong signs of economic recovery in the United States and many projects which have carried over through the New Year, has analysts predicting a big 2012 for Joy Global, with its shareholders to benefit. With the many recent purchases and integrations, Joy Global claims that it may not be done, and could be looking to make more deals and expand to even further consolidate the mining industry.