Comstock Sees Unusually Large Options Volume (NYSEAMERICAN:LODE)

Comstock Inc. (NYSEAMERICAN:LODE) saw some unusual options trading on Tuesday. Investors bought 3,673 call options on the company. This represents an increase of approximately 95% compared to the average daily volume of 1,884 call options.

Comstock Trading Up 4.3%

LODE stock traded up $0.13 during trading on Tuesday, reaching $3.04. The company had a trading volume of 333,823 shares, compared to its average volume of 1,885,847. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.06 and a quick ratio of 2.06. Comstock has a 52 week low of $1.67 and a 52 week high of $4.80. The business has a 50 day moving average of $3.14 and a 200 day moving average of $3.35. The company has a market cap of $155.57 million, a P/E ratio of -2.55 and a beta of 1.25.

Comstock (NYSEAMERICAN:LODE) last posted its quarterly earnings data on Tuesday, March 24th. The company reported ($0.23) earnings per share for the quarter. Comstock had a negative net margin of 2,771.94% and a negative return on equity of 40.69%. The firm had revenue of $0.37 million for the quarter. As a group, sell-side analysts forecast that Comstock will post -0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Comstock

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Comstock by 90.0% in the third quarter. Vanguard Group Inc. now owns 2,131,469 shares of the company’s stock worth $7,290,000 after purchasing an additional 1,009,539 shares in the last quarter. Alyeska Investment Group L.P. bought 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 in the 3rd quarter worth about $3,954,000. Flax Pond Capital LLC purchased a new stake in shares of Comstock in the 4th quarter worth about $2,610,000. Finally, Marshall Wace LLP increased its stake in shares of 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 acquiring an additional 652,376 shares in the last quarter. 7.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Noble Financial cut shares of Comstock from an “outperform” rating to a “market perform” rating in a report on Wednesday, December 24th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Comstock presently has an average rating of “Hold” and an average price target 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.