DLD Asset Management LP Invests $534,000 in Comstock Inc. $LODE

DLD Asset Management LP purchased a new position in shares of Comstock Inc. (NYSEAMERICAN:LODE) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 175,000 shares of the company’s stock, valued at approximately $534,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rockefeller Capital Management L.P. increased its stake in Comstock by 133.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the company’s stock valued at $26,000 after buying an additional 4,000 shares during the period. Wealth Effects LLC acquired a new stake in shares of Comstock in the 1st quarter worth $34,000. Jefferies Financial Group Inc. acquired a new stake in shares of Comstock in the 4th quarter worth $39,000. Virtu Financial LLC purchased a new stake in shares of Comstock in the third quarter valued at about $44,000. Finally, MML Investors Services LLC purchased a new stake in shares of Comstock in the fourth quarter valued at about $45,000. 7.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Transactions at Comstock

In other news, Director Robert Spence bought 24,410 shares of the stock in a transaction on Wednesday, June 3rd. The shares were bought at an average price of $3.97 per share, with a total value of $96,907.70. Following the completion of the acquisition, the director owned 32,403 shares of the company’s stock, valued at approximately $128,639.91. This trade represents a 305.39% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Corrado Degasperis purchased 10,682 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were purchased at an average cost of $3.98 per share, with a total value of $42,514.36. Following the purchase, the chief executive officer directly owned 181,500 shares in the company, valued at approximately $722,370. The trade was a 6.25% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have acquired 1,111,651 shares of company stock worth $4,177,981. 2.70% of the stock is currently owned by insiders.

Comstock Price Performance

Shares of NYSEAMERICAN LODE opened at $3.95 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.51 and a current ratio of 4.51. Comstock Inc. has a one year low of $2.24 and a one year high of $4.98. The firm has a market capitalization of $299.84 million, a P/E ratio of -4.11 and a beta of 1.38. The company’s fifty day moving average is $4.07 and its two-hundred day moving average is $3.54.

Comstock (NYSEAMERICAN:LODE) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) EPS for the quarter. Comstock had a negative return on equity of 32.51% and a negative net margin of 4,011.56%.The company had revenue of $0.31 million for the quarter. Analysts forecast that Comstock Inc. will post -0.41 EPS for the current fiscal year.

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.