Insider Buying: Comstock (NYSEAMERICAN:LODE) Director Acquires $630,674.30 in Stock

Comstock Inc. (NYSEAMERICAN:LODE) Director Steven Yu-Tsung Pei acquired 153,823 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was purchased at an average cost of $4.10 per share, for a total transaction of $630,674.30. Following the purchase, the director directly owned 1,710,980 shares in the company, valued at approximately $7,015,018. This represents a 9.88% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this link.

Steven Yu-Tsung Pei also recently made the following trade(s):

• On Wednesday, June 3rd, Steven Yu-Tsung Pei acquired 180,000 shares of Comstock stock. The stock was purchased at an average cost of $3.93 per share, for a total transaction of $707,400.00.
• On Monday, June 1st, Steven Yu-Tsung Pei bought 26,177 shares of Comstock stock. The stock was bought at an average price of $4.14 per share, for a total transaction of $108,372.78.
• On Thursday, May 14th, Steven Yu-Tsung Pei bought 79,559 shares of Comstock stock. The stock was bought at an average price of $3.42 per share, for a total transaction of $272,091.78.
• On Wednesday, May 13th, Steven Yu-Tsung Pei bought 345,000 shares of Comstock stock. The stock was bought at an average price of $3.38 per share, for a total transaction of $1,166,100.00.

Comstock Stock Performance

Shares of NYSEAMERICAN LODE opened at $3.93 on Friday. The company has a quick ratio of 4.51, a current ratio of 4.51 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $298.33 million, a price-to-earnings ratio of -4.09 and a beta of 1.37. The stock’s fifty day simple moving average is $3.43 and its 200 day simple moving average is $3.40. Comstock Inc. has a 52-week low of $2.24 and a 52-week high of $4.80.

Comstock (NYSEAMERICAN:LODE) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.14) earnings per share for the quarter. Comstock had a negative net margin of 4,011.56% and a negative return on equity of 32.51%. The business had revenue of $0.31 million for the quarter. As a group, sell-side analysts forecast that Comstock Inc. will post -0.41 earnings per share for the current fiscal year.

Institutional Trading of Comstock

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Flax Pond Capital LLC lifted its position in shares of Comstock by 22.4% in the first quarter. Flax Pond Capital LLC now owns 849,788 shares of the company’s stock worth $2,592,000 after buying an additional 155,763 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Comstock by 180.1% during the 1st quarter. Bank of America Corp DE now owns 80,736 shares of the company’s stock worth $246,000 after purchasing an additional 51,907 shares during the last quarter. Regal Partners Ltd acquired a new position in shares of Comstock during the 1st quarter worth about $549,000. Sei Investments Co. lifted its position in shares of Comstock by 286.0% during the 1st quarter. Sei Investments Co. now owns 1,700,841 shares of the company’s stock worth $5,188,000 after purchasing an additional 1,260,259 shares during the last quarter. Finally, DLD Asset Management LP acquired a new position in shares of Comstock during the 1st quarter worth about $534,000. Institutional investors and hedge funds own 7.96% of the company’s stock.

About Comstock

Comstock Mining, Inc (NYSE: LODE) is a growth-oriented mineral exploration and production company focused on the historic Comstock Lode in Virginia City, Nevada. The company’s primary business activities include the development, extraction and sale of gold and silver from its flagship Lucerne project. Comstock leverages modern mining techniques and infrastructure to access high-grade ore bodies in one of North America’s most renowned silver-gold districts.

In addition to its core precious metals operations, Comstock Mining maintains a commercial real estate division centered in Virginia City’s historic district.