Regal Partners Ltd Purchases New Stake in Comstock Inc. $LODE

Regal Partners Ltd purchased a new position in shares of Comstock Inc. (NYSEAMERICAN:LODE) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 180,000 shares of the company’s stock, valued at approximately $549,000.

Several other institutional investors and hedge funds also recently made changes to their positions in LODE. Rockefeller Capital Management L.P. grew its holdings in Comstock by 133.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the company’s stock valued at $26,000 after purchasing an additional 4,000 shares during the period. Wealth Effects LLC acquired a new stake in Comstock in the 1st quarter valued at approximately $34,000. Jefferies Financial Group Inc. acquired a new position in Comstock during the 4th quarter worth approximately $39,000. Virtu Financial LLC bought a new position in shares of Comstock during the 3rd quarter worth approximately $44,000. Finally, MML Investors Services LLC bought a new stake in shares of Comstock in the fourth quarter worth $45,000. Institutional investors own 7.96% of the company’s stock.

Comstock Price Performance

Shares of Comstock stock opened at $2.83 on Wednesday. The stock has a market capitalization of $215.05 million, a price-to-earnings ratio of -2.75 and a beta of 1.38. Comstock Inc. has a twelve month low of $2.24 and a twelve month high of $4.98. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.08. The company has a 50-day simple moving average of $4.04 and a two-hundred day simple moving average of $3.52.

Comstock (NYSEAMERICAN:LODE) last released its earnings results on Thursday, July 23rd. The company reported ($0.34) earnings per share (EPS) for the quarter. Comstock had a negative return on equity of 30.98% and a negative net margin of 6,016.37%.The company had revenue of $0.27 million for the quarter. Analysts forecast that Comstock Inc. will post -0.41 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Activity at Comstock

In related news, Director Steven Yu-Tsung Pei purchased 150,000 shares of the stock in a transaction dated Friday, June 12th. The stock was bought at an average cost of $4.10 per share, for a total transaction of $615,000.00. Following the completion of the acquisition, the director owned 1,868,323 shares of the company’s stock, valued at approximately $7,660,124.30. This represents a 8.73% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Spence bought 24,410 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was purchased at an average price of $3.97 per share, with a total value of $96,907.70. Following the completion of the transaction, the director directly owned 32,403 shares of the company’s stock, valued at approximately $128,639.91. The trade was a 305.39% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 1,111,651 shares of company stock worth $4,177,981. Corporate insiders own 2.70% of the company’s stock.

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.