U.S. Silica (NYSE:SLCA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports. The brokerage presently has a $12.00 target price on the mining company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 7.33% from the company’s current price.
According to Zacks, “Earnings estimates for U.S. Silica for the second quarter of 2021 have been stable over the past month. The company is likely to gain from its expansion actions in the Permian Basin. The Sandbox and EP Minerals buyouts are also expected to make significant contributions. The company’s focus on increasing footprint and product offerings in specialty end markets is also expected to boost its margins. It will also benefit from its cost-improvement projects. However, higher capital spending associated with expansion is impacting the company’s ability to generate free cash flows. It is also witnessing some headwinds in the Oil & Gas segment. Higher costs and empty railcar moves are affecting performance in the Oil & Gas segment. The company’s high debt level is another matter of concern.”
Other research analysts have also issued reports about the stock. Morgan Stanley boosted their price objective on shares of U.S. Silica from $6.00 to $8.00 and gave the stock an “underweight” rating in a research note on Thursday, March 25th. Barclays downgraded U.S. Silica from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $12.00 to $10.00 in a research report on Friday, May 28th. Finally, B. Riley raised their price objective on U.S. Silica from $4.35 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, March 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. U.S. Silica has a consensus rating of “Hold” and a consensus price target of $9.33.
U.S. Silica (NYSE:SLCA) last released its earnings results on Friday, April 30th. The mining company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.03. The business had revenue of $234.40 million during the quarter, compared to analysts’ expectations of $219.60 million. U.S. Silica had a negative net margin of 7.71% and a negative return on equity of 8.41%. The firm’s revenue was down 13.1% on a year-over-year basis. During the same period last year, the business earned ($0.03) earnings per share. As a group, equities research analysts forecast that U.S. Silica will post -0.76 EPS for the current year.
In other news, Director William Jennings Kacal acquired 15,000 shares of U.S. Silica stock in a transaction dated Friday, May 28th. The stock was bought at an average price of $10.29 per share, for a total transaction of $154,350.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired 47,000 shares of company stock valued at $489,250 over the last 90 days. Company insiders own 2.80% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Advisory Services Network LLC boosted its holdings in U.S. Silica by 278.7% in the 4th quarter. Advisory Services Network LLC now owns 5,435 shares of the mining company’s stock valued at $38,000 after purchasing an additional 4,000 shares during the period. Captrust Financial Advisors raised its position in shares of U.S. Silica by 1,696.7% in the first quarter. Captrust Financial Advisors now owns 3,234 shares of the mining company’s stock valued at $40,000 after buying an additional 3,054 shares in the last quarter. FMR LLC boosted its stake in shares of U.S. Silica by 624.3% in the first quarter. FMR LLC now owns 4,230 shares of the mining company’s stock valued at $73,000 after buying an additional 3,646 shares during the period. Walleye Capital LLC bought a new position in U.S. Silica during the 4th quarter worth $111,000. Finally, SG Americas Securities LLC acquired a new position in U.S. Silica in the 4th quarter valued at $120,000. Institutional investors and hedge funds own 76.77% of the company’s stock.
About U.S. Silica
U.S. Silica Holdings, Inc produces and sells commercial silica in the United States. It operates through two segments, Oil & Gas Proppants and Industrial & Specialty Products. The company offers whole grain commercial silica products to be used as fracturing sand in connection with oil and natural gas recovery, as well as sells its whole grain silica products in various size distributions, grain shapes, and chemical purity levels for manufacturing glass products.
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