Well it's obvious there is something going on.The pressure from the outside is a attempt for control. Looking at past quarters it surprised last three quarters. I think it needs to get the monkey off first don't see no reason why this can't happen. We''l see how strong it is very soon I think. Once that's done should be middle of things allot going on. Big short following they need to be extracted.
Having lived through a few mining boom and busts, these are not one quarter events. The first card mining companies play in a downturn is to stop virtually all new investment in capital equipment. It take S and P's view that this is heading to 40 since revenue will collapse below $3.5B and cutbacks at essentially idle plants will not be able to keep pace. Wyoming coal will continue to displace eastern coal which is largely mined underground with the sort of equipment Joy sells. Also they overpaid for the Chinese asset at the height of the boom and will need to write off goodwill here. Tangible assets are quite slim at joy.