Mad Money Spotlight: Cramer's Miners

Jim Cramer is bullish on mining-equipment makers Bucyrus and Joy Global.
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Commodities are hot, and Jim Cramer is bullish on two mining-equipment stocks that stand to benefit from signs of a macro-economic rebound:

Bucyrus International

(BUCY)

and

Joy Global

(JOYG)

.

Cramer made his opinion known on Monday evening in the Lightning Round segment of his "Mad Money" broadcast.

Last week, a mining-sector analyst at KeyBanc Capital Markets chimed in with a similarly optimistic view of the two companies, lifting his ratings on Bucyrus and Joy Global to buy from hold.

The logic for the Bucyrus/Joy Global joy runs thusly: cutbacks in production amid the recession last year and early this year have resulted in low metals stockpiles. Combined with rising demand as the economy recovers, this diminished supply should result not only in a spike in prices, but mining companies that want to cash in by increasing production. And that, of course, would help the likes of those who make mining equipment.

Both Joy Global and Bucyrus do a lot of

business in India and therefore stand to benefit from economic recovery in the world's largest democracy, Cramer has said before.

Bucyrus shares have performed well recently, climbing 55% in the year to date, but they're still well below their 52-week peak, set in the middle of last June. Bucyrus stock slipped in early trading Tuesday, moving at $30.54, down 15 cents from the previous close.

Joy Global shares have also risen sharply since the beginning of 2009, jumping 50%, but (like all commodities and raw materials stocks) they're off 60% from their June 2008 52-week high of $90. In Tuesday-morning trading, Joy shares were changing hands at $35.88, down 2% from the previous close.

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