Don't Sleep on Silica
U.S. Silica set to report earnings on April 29. Here's why we're paying attention.
For more than 100 years, U.S. Silica (SLCA) has been the leader in industrial silica and minerals industry. It is set to report earnings on April 29 with an expected move of 15% .
Why it matters: One of the company’s two arms focuses on providing silica fracturing sand in connection with oil and natural gas recovery. With the current pressure on fortifying oil and gas reserves, U.S. Silica stands to benefit from providing the proppants needed for hydraulic fracturing.
The insider action: Several hedge funds have recently increased their positions including: Credit Suisse, LPL Financial, and Metropolitan Life Insurance Co.
- Royal Bank of Canada raised its stake in U.S. Silica by 86.1% bringing its position up to 9,698 shares.
- MetLife Investment Management LLC now owns 25,504 shares of the mining company’s stock valued at $240,000 after increasing its position in the 4th quarter by 49%.
- 77.47% of the stock is owned by hedge funds and other institutional investors.
Join the hedge funds with a hedge of your own on SLCA
Source: Defense World