The 33 trapped Chilean miners are finally being rescued.  Images on TV are showing elated miners being pulled up the deep mine shaft through a two-foot narrow hole via a rescue capsule.  Layne Christensen Co. (NASDAQ: LAYN) is thought of as being a water well driller by many investors, but it also drills for other minerals as well.

Guess who is largely behind the Chilean miner rescue?  Layne Christensen Co. …  The formal description of the company is that it provides drilling and construction services and related products to the water infrastructure and mineral exploration markets.  Unfortunately, the current price and valuations did not fit within our screen of the best value stocks for water investors.

The company reported earnings back in early September and the water infrastructure operations carried the quarter with 11% growth in that operation.  Its energy business acted as a large drag on the sector.  The company also gave guidance at the time for a rougher second half of the year.

Even after a 6% rise today to $29.31, the company’s market cap is small at $571 million and the 52-week trading range is $22.97 to $31.31.  Shares were at a low of $26.11 just five trading days ago.

Thomson Reuters has 2010 estimates (actually FY Jan-11) of $1.21 EPS and $960.13 million in revenues and shows 2011 estimates (actually FY Jan-2012) $1.49 EPS and $1.01 billion.

The Kansas City Business Journal has a complete description of Layne Christensen’s work to rescue the trapped Chilean miners.  The company also has its own note about its rescue efforts with images and more.

JON C. OGG

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