Comstock (NYSEAMERICAN:LODE) Releases Quarterly Earnings Results

Comstock (NYSEAMERICAN:LODE) released its quarterly earnings results on Thursday. The company reported ($0.34) earnings per share for the quarter, FiscalAI reports. Comstock had a negative net margin of 4,011.56% and a negative return on equity of 32.51%. The business had revenue of $0.27 million for the quarter.

Comstock Stock Performance

Shares of NYSEAMERICAN:LODE traded down $0.07 during midday trading on Thursday, hitting $3.88. The company’s stock had a trading volume of 1,074,560 shares, compared to its average volume of 1,618,703. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.51 and a current ratio of 4.51. The stock’s 50 day simple moving average is $4.07 and its 200 day simple moving average is $3.54. The stock has a market capitalization of $294.53 million, a price-to-earnings ratio of -4.04 and a beta of 1.38. Comstock has a fifty-two week low of $2.24 and a fifty-two week high of $4.98.

Insider Buying and Selling

In other Comstock news, CEO Corrado Degasperis purchased 35,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was bought at an average cost of $2.89 per share, for a total transaction of $101,150.00. Following the completion of the acquisition, the chief executive officer directly owned 170,818 shares in the company, valued at $493,664.02. This represents a 25.77% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven Yu-Tsung Pei acquired 345,000 shares of Comstock stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average cost of $3.38 per share, with a total value of $1,166,100.00. Following the completion of the transaction, the director directly owned 1,451,421 shares of the company’s stock, valued at $4,905,802.98. This trade represents a 31.18% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders acquired 1,111,651 shares of company stock valued at $4,177,981. Insiders own 2.70% of the company’s stock.

Institutional Trading of Comstock

A number of hedge funds have recently bought and sold shares of LODE. Flax Pond Capital LLC increased its holdings in shares of 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 purchasing an additional 155,763 shares during the period. Bank of America Corp DE lifted its stake in shares of Comstock by 180.1% in the first quarter. Bank of America Corp DE now owns 80,736 shares of the company’s stock valued at $246,000 after buying an additional 51,907 shares during the period. Regal Partners Ltd acquired a new stake in Comstock during the first quarter worth about $549,000. Sei Investments Co. grew its position in Comstock by 286.0% during the first quarter. Sei Investments Co. now owns 1,700,841 shares of the company’s stock worth $5,188,000 after buying an additional 1,260,259 shares in the last quarter. Finally, DLD Asset Management LP bought a new position in Comstock during the first quarter valued at about $534,000. 7.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, UBS Group reiterated a “reduce” rating on shares of Comstock in a research note on Monday, June 22nd. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $4.00.

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.