Zacks Investment Research Upgrades U.S. Silica Holdings, Inc. (NYSE:SLCA) to “Buy”
Zacks Investment Research upgraded shares of U.S. Silica Holdings, Inc. (NYSE:SLCA) from a hold rating to a buy rating in a report issued on Thursday morning. They currently have $30.00 target price on the mining company’s stock.
According to Zacks, “U.S. Silica is focusing on preserving capital, improving customer satisfaction and boosting its market position. It also remains focused on making strategic investments and pursuing earnings-accretive acquisitions leveraging its strong balance sheet. It should also gain from operational improvement and cost reduction actions.”
SLCA has been the subject of a number of other reports. Evercore ISI began coverage on shares of U.S. Silica Holdings in a report on Thursday, May 25th. They set an outperform rating and a $48.00 price objective for the company. Simmons lifted their price objective on shares of U.S. Silica Holdings from $63.50 to $64.50 and gave the company an overweight rating in a report on Tuesday, April 11th. BidaskClub upgraded shares of U.S. Silica Holdings from a sell rating to a hold rating in a report on Wednesday, July 19th. Jefferies Group LLC set a $65.00 price objective on shares of U.S. Silica Holdings and gave the company a buy rating in a report on Wednesday, April 26th. Finally, Royal Bank Of Canada set a $60.00 price objective on shares of U.S. Silica Holdings and gave the company a buy rating in a report on Saturday, July 1st. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $54.44.
Shares of U.S. Silica Holdings (SLCA) traded down 2.24% during midday trading on Thursday, reaching $28.36. 630,894 shares of the company’s stock traded hands. U.S. Silica Holdings has a 12 month low of $26.35 and a 12 month high of $61.49. The stock’s market cap is $2.30 billion. The stock has a 50 day moving average of $33.08 and a 200-day moving average of $44.03.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Friday, September 15th will be given a $0.063 dividend. This is a positive change from U.S. Silica Holdings’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.25 annualized dividend and a yield of 0.87%. U.S. Silica Holdings’s payout ratio is currently -59.52%.
Hedge funds have recently made changes to their positions in the company. Howard Hughes Medical Institute bought a new stake in shares of U.S. Silica Holdings during the first quarter valued at approximately $106,000. Tyers Asset Management LLC raised its stake in shares of U.S. Silica Holdings by 11.0% in the first quarter. Tyers Asset Management LLC now owns 2,256 shares of the mining company’s stock valued at $108,000 after buying an additional 224 shares in the last quarter. Welch Group LLC bought a new stake in shares of U.S. Silica Holdings during the first quarter valued at approximately $113,000. Elkfork Partners LLC raised its stake in shares of U.S. Silica Holdings by 11.0% in the first quarter. Elkfork Partners LLC now owns 3,102 shares of the mining company’s stock valued at $149,000 after buying an additional 308 shares in the last quarter. Finally, Creative Planning raised its stake in shares of U.S. Silica Holdings by 4.9% in the first quarter. Creative Planning now owns 3,332 shares of the mining company’s stock valued at $160,000 after buying an additional 156 shares in the last quarter.
U.S. Silica Holdings Company Profile
U.S. Silica Holdings, Inc is a domestic producer of commercial silica, a specialized mineral that is an input into a range of end markets. The Company operates in two segments: Oil & Gas Proppants, and Industrial & Specialty Products. In the Oil & Gas Proppants segment, it serves the oil and gas recovery market providing fracturing sand, or frac sand, which is pumped down oil and natural gas wells to prop open rock fissures and manage the flow rate of natural gas and oil from the wells.
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