Gratia Capital LLC Has $7.77 Million Stock Holdings in Comstock Inc. $LODE

Gratia Capital LLC increased its position in Comstock Inc. (NYSEAMERICAN:LODE) by 68.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,868,323 shares of the company’s stock after acquiring an additional 761,902 shares during the period. Comstock makes up 4.7% of Gratia Capital LLC’s portfolio, making the stock its 4th biggest position. Gratia Capital LLC owned approximately 2.46% of Comstock worth $7,772,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Comstock by 90.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,131,469 shares of the company’s stock valued at $7,290,000 after purchasing an additional 1,009,539 shares during the period. Sei Investments Co. raised its holdings in shares of Comstock by 286.0% during the first quarter. Sei Investments Co. now owns 1,700,841 shares of the company’s stock valued at $5,188,000 after buying an additional 1,260,259 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Comstock during the third quarter worth approximately $4,104,000. Flax Pond Capital LLC boosted its position in shares of Comstock by 22.4% during the first quarter. Flax Pond Capital LLC now owns 849,788 shares of the company’s stock worth $2,592,000 after buying an additional 155,763 shares during the period. Finally, Marshall Wace LLP grew its holdings in Comstock by 3,811.1% in the 4th quarter. Marshall Wace LLP now owns 669,494 shares of the company’s stock worth $2,517,000 after buying an additional 652,376 shares in the last quarter. 7.96% of the stock is currently owned by institutional investors.

Comstock Stock Performance

LODE stock opened at $3.04 on Thursday. The company has a 50-day simple moving average of $3.51 and a 200 day simple moving average of $3.50. The company has a market capitalization of $231.01 million, a P/E ratio of -2.95 and a beta of 1.46. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.08. Comstock Inc. has a fifty-two week low of $2.35 and a fifty-two week high of $4.98.

Comstock (NYSEAMERICAN:LODE) last released its earnings results on Thursday, July 23rd. The company reported ($0.34) EPS 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 for the quarter. Sell-side analysts predict that Comstock Inc. will post -0.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, UBS Group restated a “reduce” rating on shares of Comstock in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce”.

Insider Activity

In related news, Director Steven Yu-Tsung Pei acquired 150,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average price of $4.10 per share, for a total transaction of $615,000.00. Following the completion of the purchase, the director directly owned 1,868,323 shares of the company’s stock, valued at $7,660,124.30. The trade was a 8.73% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.70% of the stock is owned by company insiders.

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.