Comstock (NYSEAMERICAN:LODE) Stock Price Up 11.2% on Insider Buying Activity

Comstock Inc. (NYSEAMERICAN:LODE)’s stock price traded up 11.2% during mid-day trading on Thursday following insider buying activity. The stock traded as high as $4.64 and last traded at $4.36. 3,353,037 shares traded hands during mid-day trading, an increase of 105% from the average session volume of 1,632,784 shares. The stock had previously closed at $3.92.

Specifically, Director Leo M. Drozdoff purchased 7,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was bought at an average cost of $4.11 per share, with a total value of $28,770.00. Following the transaction, the director directly owned 193,474 shares in the company, valued at approximately $795,178.14. The trade was a 3.75% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Corrado Degasperis bought 10,682 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was purchased at an average cost of $3.98 per share, with a total value of $42,514.36. Following the completion of the acquisition, the chief executive officer directly owned 181,500 shares of the company’s stock, valued at approximately $722,370. The trade was a 6.25% increase in their position. The disclosure for this purchase is available in the SEC filing. In other news, Director Steven Yu-Tsung Pei bought 180,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was acquired at an average cost of $3.93 per share, with a total value of $707,400.00. Following the completion of the acquisition, the director owned 1,890,980 shares of the company’s stock, valued at approximately $7,431,551.40. This represents a 10.52% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Comstock Price Performance

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 firm’s fifty day moving average price is $3.41 and its two-hundred day moving average price is $3.40. The stock has a market capitalization of $330.97 million, a PE ratio of -4.54 and a beta of 1.37.

Comstock (NYSEAMERICAN:LODE) last released its quarterly earnings data 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 company had revenue of $0.31 million for the quarter. On average, equities analysts predict that Comstock Inc. will post -0.41 earnings per share for the current year.

Hedge Funds Weigh In On Comstock

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Comstock by 90.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,131,469 shares of the company’s stock worth $7,290,000 after acquiring an additional 1,009,539 shares in the last quarter. Sei Investments Co. grew its holdings in 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 acquiring an additional 1,260,259 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in Comstock during the 3rd quarter worth about $4,104,000. Regal Partners Ltd bought a new position in Comstock during the 3rd quarter worth about $3,954,000. Finally, Flax Pond Capital LLC grew its holdings in Comstock by 22.4% during the 1st quarter. Flax Pond Capital LLC now owns 849,788 shares of the company’s stock worth $2,592,000 after acquiring an additional 155,763 shares in the last quarter. 7.96% of the stock is currently owned by institutional investors.

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.