We are all familiar with the old saying, "You get what you pay for," and in this case, that is exactly what we are counting on.We believe buy-and-hold investors could be well rewarded for taking an early interest in the mining-equipment manufacturer and services provider Joy Global (JOY - Get Report). Shares of Joy Global closed Tuesday's trading at $55.57. Joy is not expensive when looking at its price-to-earnings ratio, as it currently trades at about 8x consensus fiscal 2013 earnings expectations of $6.73. This is well below its historical (past five years) price-to-earnings ratio of 14x. The stock deserves its low multiple today.
A Mining Stock for Buy-and-Hold Investors
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