Insider Buying: Comstock (NYSEAMERICAN:LODE) CEO Acquires 35,000 Shares of Stock

Comstock Inc. (NYSEAMERICAN:LODE) CEO Corrado Degasperis purchased 35,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were purchased at an average cost of $2.89 per share, for a total transaction of $101,150.00. Following the completion of the purchase, the chief executive officer directly owned 170,818 shares in the company, valued at $493,664.02. The trade was a 25.77% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Comstock Trading Down 2.0%

Shares of LODE stock traded down $0.06 during trading hours on Tuesday, hitting $2.91. 1,038,010 shares of the company were exchanged, compared to its average volume of 1,627,300. The firm has a market cap of $220.90 million, a PE ratio of -3.03 and a beta of 1.31. Comstock Inc. has a 1 year low of $2.24 and a 1 year high of $4.80. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.11. The firm has a fifty day moving average of $3.15 and a 200 day moving average of $3.29.

Comstock (NYSEAMERICAN:LODE) last announced its quarterly earnings data 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 36.39% and a negative net margin of 4,011.56%. Analysts expect that Comstock Inc. will post -0.41 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LODE. Alyeska Investment Group L.P. purchased a new position in shares of Comstock during the 3rd quarter worth about $4,104,000. Regal Partners Ltd purchased a new position in shares of Comstock during the 3rd quarter worth about $3,954,000. Vanguard Group Inc. lifted its holdings in shares of Comstock by 90.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,131,469 shares of the company’s stock worth $7,290,000 after acquiring an additional 1,009,539 shares during the period. Flax Pond Capital LLC purchased a new position in shares of Comstock during the 4th quarter worth about $2,610,000. Finally, Marshall Wace LLP lifted its holdings in shares of Comstock by 3,811.1% during the 4th quarter. Marshall Wace LLP now owns 669,494 shares of the company’s stock worth $2,517,000 after acquiring an additional 652,376 shares during the period. 7.96% of the stock is currently owned by hedge funds and other institutional investors.

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.