DLD Asset Management LP Buys New Stake in Comstock Inc. $LODE

DLD Asset Management LP purchased a new stake in Comstock Inc. (NYSEAMERICAN:LODE) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 175,000 shares of the company’s stock, valued at approximately $534,000. DLD Asset Management LP owned approximately 0.23% of Comstock at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Flax Pond Capital LLC purchased a new stake in Comstock during the fourth quarter worth approximately $2,610,000. 683 Capital Management LLC purchased a new position in Comstock in the fourth quarter valued at approximately $1,039,000. Jefferies Financial Group Inc. purchased a new position in Comstock in the fourth quarter valued at approximately $39,000. Squarepoint Ops LLC acquired a new stake in Comstock during the third quarter worth approximately $172,000. Finally, XTX Topco Ltd acquired a new stake in Comstock during the second quarter worth approximately $163,000. 7.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Comstock

In other Comstock news, Director Robert Spence acquired 24,410 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were bought at an average cost of $3.97 per share, for a total transaction of $96,907.70. Following the completion of the purchase, the director owned 32,403 shares in the company, valued at $128,639.91. This trade represents a 305.39% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Leo M. Drozdoff bought 7,000 shares of Comstock stock in a transaction dated Wednesday, June 3rd. The stock was acquired at an average cost of $4.11 per share, with a total value of $28,770.00. Following the completion of the acquisition, the director directly owned 193,474 shares of the company’s stock, valued at approximately $795,178.14. The trade was a 3.75% 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 in the last quarter. 2.70% of the stock is currently owned by company insiders.

Comstock Price Performance

Shares of NYSEAMERICAN LODE opened at $3.95 on Thursday. The company has a current ratio of 4.51, a quick ratio of 4.51 and a debt-to-equity ratio of 0.08. Comstock Inc. has a twelve month low of $2.24 and a twelve month high of $4.98. The stock has a 50 day moving average of $4.07 and a two-hundred day moving average of $3.54. The stock has a market cap of $299.84 million, a P/E ratio of -4.11 and a beta of 1.38.

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

Analyst Upgrades and Downgrades

Separately, UBS Group restated a “reduce” rating on shares of Comstock in a report on Monday, June 22nd. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $4.00.

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.