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The Joy of Global Mining

Stocks in this article: JOY CAT KKD

NEW YORK ( TheStreet) -- If I could only lead my readers to more home runs as I did in my article about the "Great Donut Debate". Alas, home runs are the exception.

At the time I didn't know one of the two companies, Krispy Kreme (KKD), would skyrocket in the two days following the article's publication. All I knew is the company would report earnings last Thursday and that I had done a good deal of research about it.

Now I'm sharing some research I and some of my colleagues have done on another company, one of the leading providers of mining equipment for the extraction of coal, copper, iron ore, oil sands and other minerals in the world.

Joy Global (JOY) has about 1/10th the market cap of its big competitor Caterpillar (CAT) and certainly doesn't offer the same wide-ranging types of equipment as CAT.

It's a company with a mission that is focused on a particular niche, which, like the donut business, isn't always a sure-fire success in all kinds of seasons and economic climates. Yet, if you look at its no-nonsense Web site you see how it distinguishes itself.

The company is focused on technologies that it claims will "revolutionize mining." The site goes on to explain, "Our business is focused solely on serving surface and underground mining operations with superior equipment and direct service that achieves the lowest cost per unit of production over the life cycle."

JOY's scope is global, with facilities and service centers that span six continents and more than 20 countries. Yet, its focus remains local.

Above ground and below, it proclaims a determination "... to create a more seamless experience that raises the bar for the entire industry." If you examine JOY's fiscal 2013 second-quarter earnings results you'll likely notice how determined the company is to live up to its mission in the face of some challenging worldwide obstacles.

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