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U.S. Silica Holdings, Inc. (SLCA) produces and sells commercial silica in the United States.
The company operates through two segments, Oil & Gas Proppants, and Industrial & Specialty Products.
It offers whole grain commercial silica products to be used as fracturing sand in connection with oil and natural gas recovery; and resin coated proppants, as well as sells its whole grain silica products in various size distributions, grain shapes, and chemical purity levels for manufacturing glass products.
The company also provides ground commercial silica products for use in plastics, rubber, polishes, cleansers, paints, glazes, textile fiberglass, and precision castings; and fine ground silica for use in premium paints, specialty coatings, sealants, silicone rubber, and epoxies. In addition, it offers other industrial mineral products, such as aplite, a mineral used to produce container glass and insulation fiberglass; and adsorbent made from a mixture of silica and magnesium for preparative and analytical chromatography applications.
The company serves oil and gas recovery markets; and industrial end markets with customers involved in the production of glass, building products, foundry products, chemicals, and fillers and extenders. As of December 31, 2015, it had approximately 400 million tons of proven and probable recoverable mineral reserves.
Shares had formed a bearish"flag" following the company's latest quarterly results. The firm reported a loss of 9 cents per share, a penny better than expected. Revenue came in at $182.4 million, above the $175.5M expected. Prices fell out of that formation the last two days and are now sitting at their 200-day moving average support (shown in green). We expect shares to see a rebound today from the 200-day MA support level. Note that the last time shares hit their 200-day MA was about a year ago and the subsequent rebound that followed.
Enrtry Point: $47.00
52-Weeks Trading Range: $18.95 - $61.49
Stop Loss: $43.50
Target Price: $50.90
SLCA closed at $43
