StockNews.com Initiates Coverage on U.S. Silica (NYSE:SLCA)

StockNews.com initiated coverage on shares of U.S. Silica (NYSE:SLCA) in a report issued on Sunday morning. The brokerage issued a hold rating on the mining company’s stock.

Separately, Citigroup lifted their price objective on shares of U.S. Silica from $13.50 to $15.50 and gave the stock a neutral rating in a research note on Wednesday, May 1st.

U.S. Silica Trading Down 0.1 %

NYSE:SLCA opened at $15.49 on Friday. U.S. Silica has a 12 month low of $10.09 and a 12 month high of $16.03. The firm has a fifty day simple moving average of $15.45 and a 200-day simple moving average of $14.02. The company has a current ratio of 3.62, a quick ratio of 2.74 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $1.21 billion, a P/E ratio of 10.54 and a beta of 1.99.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System lifted its position in U.S. Silica by 3.1% during the second quarter. Arizona State Retirement System now owns 21,860 shares of the mining company’s stock valued at $338,000 after purchasing an additional 656 shares during the period. SummerHaven Investment Management LLC lifted its position in U.S. Silica by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 57,179 shares of the mining company’s stock valued at $883,000 after purchasing an additional 972 shares during the period. GAMMA Investing LLC lifted its position in U.S. Silica by 25.8% during the first quarter. GAMMA Investing LLC now owns 4,773 shares of the mining company’s stock valued at $59,000 after purchasing an additional 978 shares during the period. ProShare Advisors LLC lifted its position in U.S. Silica by 7.4% during the first quarter. ProShare Advisors LLC now owns 15,237 shares of the mining company’s stock valued at $189,000 after purchasing an additional 1,052 shares during the period. Finally, Louisiana State Employees Retirement System lifted its position in U.S. Silica by 2.9% during the second quarter. Louisiana State Employees Retirement System now owns 39,300 shares of the mining company’s stock valued at $607,000 after purchasing an additional 1,100 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

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 frac for oil and natural gas recovery, as well as sells its whole grain silica products for the manufacturing of glass products.