U.S. Silica Holdings Inc (SLCA) continues to see strong upside momentum take it to fresh record highs, recently busting thru the $42 level, and putting it on track to print higher highs.
Trading at a multiple of 16.30 times next year’s estimated earnings, the stock should continue to climb not only from a fundamental perspective, but also from a technical one, as the chart points to a strong rally from here to the mid-$48 level.
The fact that the name hasn’t relinquished much in the way of its solid intraday gains whatsoever since early February despite the recent market selloff, is also noteworthy.
SLCA has an average 3-month trading volume of 1.7 million shares. The ticker has a 52wk range of $18.12 – 42.47. The company has a current market cap of $2.27 billion, a P/E ratio of 29.97 and a mrq/book value of 5.78.
Shares of Silica closed at $42.26 on Friday.
Disclosure: No position