Flax Pond Capital LLC Buys New Holdings in Comstock Inc. $LODE

Flax Pond Capital LLC purchased a new position in Comstock Inc. (NYSEAMERICAN:LODE) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 694,025 shares of the company’s stock, valued at approximately $2,610,000. Comstock accounts for approximately 1.9% of Flax Pond Capital LLC’s holdings, making the stock its 25th biggest position.

A number of other institutional investors also recently bought and sold shares of LODE. Jefferies Financial Group Inc. acquired a new stake in Comstock during the 4th quarter valued at approximately $39,000. Virtu Financial LLC acquired a new stake in shares of Comstock in the third quarter worth $44,000. MML Investors Services LLC acquired a new stake in shares of Comstock in the fourth quarter worth $45,000. Marathon Capital Management raised its holdings in shares of Comstock by 48.1% during the third quarter. Marathon Capital Management now owns 20,000 shares of the company’s stock worth $68,000 after purchasing an additional 6,500 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Comstock during the third quarter worth $78,000. 7.96% of the stock is owned by hedge funds and other institutional investors.

Comstock Stock Performance

NYSEAMERICAN LODE opened at $4.77 on Friday. Comstock Inc. has a 1 year low of $2.24 and a 1 year high of $4.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.51 and a quick ratio of 4.51. The company has a market capitalization of $362.09 million, a PE ratio of -4.97 and a beta of 1.37. The company has a fifty day moving average of $3.63 and a 200 day moving average of $3.46.

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

Insider Buying and Selling

In related news, Director Robert Spence purchased 24,410 shares of Comstock stock in a transaction that occurred on Wednesday, June 3rd. The stock was bought at an average cost of $3.97 per share, for a total transaction of $96,907.70. Following the completion of the transaction, the director owned 32,403 shares in the company, valued at $128,639.91. The trade was a 305.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steven Yu-Tsung Pei purchased 150,000 shares of Comstock stock in a transaction that occurred on Friday, June 12th. The shares were bought at an average price of $4.10 per share, with a total value of $615,000.00. Following the completion of the transaction, the director owned 1,868,323 shares of the company’s stock, valued at $7,660,124.30. This represents a 8.73% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 1,111,651 shares of company stock worth $4,177,981 over the last ninety days. 2.70% of the stock is owned by corporate insiders.

Comstock 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.