Key Points
- Comstock director Steven Yu-Tsung Pei bought 345,000 shares on May 13 at an average price of $3.38, a total purchase of $1.17 million. The filing says his stake rose by 31.18% to 1,451,421 shares.
- Pei also made another purchase the next day, acquiring 79,559 shares at $3.42 each for about $272,092. This adds to the recent insider buying activity in the stock.
- Comstock shares were down 3.5% and opened at $3.32, while the company continues to report weak fundamentals, including a recent quarterly loss of $0.14 per share and negative profitability metrics.
Comstock Inc. (NYSEAMERICAN:LODE - Get Free Report) Director Steven Yu-Tsung Pei bought 79,559 shares of the stock in a transaction on Thursday, May 14th. The stock was purchased at an average cost of $3.42 per share, with a total value of $272,091.78. Following the completion of the purchase, the director directly owned 1,530,980 shares in the company, valued at $5,235,951.60. This trade represents a 5.48% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Steven Yu-Tsung Pei also recently made the following trade(s):
- On Wednesday, May 13th, Steven Yu-Tsung Pei bought 345,000 shares of Comstock stock. The stock was purchased at an average cost of $3.38 per share, with a total value of $1,166,100.00.
Comstock Stock Down 3.5%
LODE stock opened at $3.32 on Friday. The stock has a market capitalization of $252.02 million, a P/E ratio of -3.46 and a beta of 1.31. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.06 and a current ratio of 4.51. Comstock Inc. has a one year low of $2.24 and a one year high of $4.80. The company has a 50 day moving average price of $3.16 and a two-hundred day moving average price of $3.29.
Comstock (NYSEAMERICAN:LODE - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.14) EPS for the quarter. The firm had revenue of $0.31 million during the quarter. Comstock had a negative return on equity of 32.51% and a negative net margin of 4,011.56%. As a group, sell-side analysts expect that Comstock Inc. will post -0.37 EPS for the current year.
Institutional Trading of Comstock
Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake 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 valued at $7,290,000 after buying an additional 1,009,539 shares during the period. Sei Investments Co. grew its stake in shares of Comstock by 286.0% during the 1st 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 period. Alyeska Investment Group L.P. purchased a new stake in shares of Comstock during the 3rd quarter valued at $4,104,000. Regal Partners Ltd purchased a new stake in shares of Comstock during the 3rd quarter valued at $3,954,000. Finally, Flax Pond Capital LLC purchased a new stake in shares of Comstock during the 4th quarter valued at $2,610,000. 7.96% of the stock is owned by hedge funds and other institutional investors.
About Comstock
(
Get Free Report)
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.
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