Comstock Target of Unusually High Options Trading (NYSEAMERICAN:LODE)

Comstock Inc. (NYSEAMERICAN:LODE) was the target of unusually large options trading activity on Tuesday. Traders bought 3,673 call options on the stock. This is an increase of approximately 95% compared to the typical daily volume of 1,884 call options.

Institutional Trading of Comstock

A number of institutional investors and hedge funds have recently bought and sold shares of LODE. Regal Partners Ltd purchased a new position in Comstock in the 3rd quarter worth approximately $3,954,000. Apis Capital Advisors LLC lifted its position in Comstock by 48.2% in the 3rd quarter. Apis Capital Advisors LLC now owns 504,000 shares of the company’s stock valued at $1,724,000 after acquiring an additional 164,000 shares in the last quarter. Flax Pond Capital LLC purchased a new stake in Comstock during the 4th quarter valued at $2,610,000. Balyasny Asset Management L.P. purchased a new stake in Comstock during the 4th quarter valued at $100,000. Finally, 683 Capital Management LLC bought a new stake in shares of Comstock in the 4th quarter worth $1,039,000. 7.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Noble Financial downgraded shares of Comstock from an “outperform” rating to a “market perform” rating in a research note on Wednesday, December 24th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.00.

Comstock Stock Up 4.3%

Comstock stock traded up $0.13 during mid-day trading on Tuesday, hitting $3.04. The company had a trading volume of 333,823 shares, compared to its average volume of 1,885,847. Comstock has a 12 month low of $1.67 and a 12 month high of $4.80. The company has a market capitalization of $155.57 million, a PE ratio of -2.55 and a beta of 1.25. The stock’s 50 day moving average price is $3.14 and its two-hundred day moving average price is $3.35. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.11.

Comstock (NYSEAMERICAN:LODE) last issued its quarterly earnings results on Tuesday, March 24th. The company reported ($0.23) earnings per share for the quarter. The company had revenue of $0.37 million for the quarter. Comstock had a negative net margin of 2,771.94% and a negative return on equity of 40.69%. As a group, sell-side analysts anticipate that Comstock will post -0.22 earnings per share 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.