Traders Buy Large Volume of Comstock Call Options (NYSEAMERICAN:LODE)

Comstock Inc. (NYSEAMERICAN:LODE) was the recipient of unusually large options trading activity on Monday. Traders acquired 8,300 call options on the stock. This represents an increase of approximately 451% compared to the typical volume of 1,505 call options.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Comstock

In other news, Director Leo M. Drozdoff bought 7,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was bought at an average price of $4.11 per share, for a total transaction of $28,770.00. Following the completion of the transaction, the director directly owned 193,474 shares in the company, valued at $795,178.14. The trade was a 3.75% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Corrado Degasperis bought 10,682 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were purchased at an average price of $3.98 per share, with a total value of $42,514.36. Following the transaction, the chief executive officer owned 181,500 shares of the company’s stock, valued at $722,370. The trade was a 6.25% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 652,092 shares of company stock worth $2,638,639 in the last quarter. 2.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Comstock

Hedge funds have recently added to or reduced their stakes in the stock. Ancora Advisors LLC bought a new position in Comstock during the second quarter worth about $278,000. Bank of New York Mellon Corp bought a new stake in shares of Comstock in the 2nd quarter valued at about $758,000. Flax Pond Capital LLC increased its stake in shares of Comstock by 22.4% in the 1st quarter. Flax Pond Capital LLC now owns 849,788 shares of the company’s stock valued at $2,592,000 after acquiring an additional 155,763 shares during the last quarter. Bank of America Corp DE raised its position in shares of Comstock by 180.1% in the 1st quarter. Bank of America Corp DE now owns 80,736 shares of the company’s stock valued at $246,000 after acquiring an additional 51,907 shares during the period. Finally, Regal Partners Ltd acquired a new stake in shares of Comstock in the 1st quarter valued at approximately $549,000. Institutional investors and hedge funds own 7.96% of the company’s stock.

Comstock Trading Up 3.6%

Shares of Comstock stock traded up $0.12 on Monday, hitting $3.58. 554,977 shares of the company’s stock traded hands, compared to its average volume of 1,608,432. The firm’s 50-day moving average price is $3.82 and its two-hundred day moving average price is $3.45. The stock has a market capitalization of $272.42 million, a PE ratio of -3.48 and a beta of 1.42. Comstock has a one year low of $2.24 and a one year high of $4.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.20 and a quick ratio of 3.20.

Comstock (NYSEAMERICAN:LODE) last posted its quarterly earnings results on Thursday, July 23rd. The company reported ($0.34) earnings per share for the quarter. Comstock had a negative net margin of 6,016.37% and a negative return on equity of 30.98%. The company had revenue of $0.27 million during the quarter. On average, research analysts expect that Comstock will post -0.33 EPS for the current fiscal year.

Comstock Company Profile

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.