Due to U.S. Silica’s (SLCA) earnings beat yesterday, and actually reporting a modest profit (suggesting a move on balances sheets from red to green across the industry), I am adding 100 more shares of Emerge Energy (EMES) on valuation.
I like the fact that SLCA and EMES have both reported surging volumes in the recent month, and look to seek further opportunities in the industrial sector (EMES’s new acquisition of Osburn Materials this month, finally gives it the capability to expand into industrial end markets, like its competitors Fairmount Santrol (FMSA) and SLCA).
This purchase of EMES back at around $12.50 (where we bought originally and caught a double at $24), rebalances the position back to equal-weight ($13,500), in-line with our other silica sand names in the portfolio.
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