Comstock (NYSEAMERICAN:LODE) Shares Down 3.7% - Time to Sell?

Key Points

• Comstock shares fell 3.7% on Monday, trading as low as $4.14 on lighter-than-average volume before last changing hands at $4.18.
• Analyst sentiment remains cautious: UBS reiterated a “reduce” rating, and MarketBeat data shows an average rating of “Reduce” with a $4.00 price target.
• The company continues to report weak fundamentals, including negative earnings, negative margins, and a projected loss for the current year, though insiders have recently been buying shares.

Shares of Comstock Inc. (NYSEAMERICAN:LODE - Get Free Report) dropped 3.7% on Monday . The stock traded as low as $4.14 and last traded at $4.18. Approximately 715,425 shares traded hands during trading, a decline of 57% from the average daily volume of 1,662,032 shares. The stock had previously closed at $4.34.

Analyst Upgrades and Downgrades

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

Comstock Stock Down 3.7%

The company has a debt-to-equity ratio of 0.08, a current ratio of 4.51 and a quick ratio of 4.51. The business's fifty day simple moving average is $3.95 and its two-hundred day simple moving average is $3.54. The company has a market cap of $317.30 million, a PE ratio of -4.35 and a beta of 1.38.

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

Insider Buying and Selling

In other Comstock news, CEO Corrado Degasperis acquired 35,000 shares of the company's stock in a transaction on Tuesday, May 12th. The shares were bought at an average cost of $2.89 per share, with a total value of $101,150.00. Following the completion of the acquisition, the chief executive officer owned 170,818 shares in the company, valued at approximately $493,664.02. This trade represents a 25.77% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven Yu-Tsung Pei acquired 345,000 shares of the company's stock in a transaction on Wednesday, May 13th. The stock was acquired at an average cost of $3.38 per share, for a total transaction of $1,166,100.00. Following the completion of the acquisition, the director owned 1,451,421 shares of the company's stock, valued at $4,905,802.98. This trade represents a 31.18% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 1,111,651 shares of company stock valued at $4,177,981. 2.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Comstock by 90.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,131,469 shares of the company's stock valued at $7,290,000 after acquiring an additional 1,009,539 shares during the period. Sei Investments Co. raised its position in Comstock by 286.0% during the first quarter. Sei Investments Co. now owns 1,700,841 shares of the company's stock worth $5,188,000 after acquiring an additional 1,260,259 shares during the period. Alyeska Investment Group L.P. acquired a new position in Comstock during the third quarter worth $4,104,000. Flax Pond Capital LLC raised its position in Comstock by 22.4% during the first quarter. Flax Pond Capital LLC now owns 849,788 shares of the company's stock worth $2,592,000 after acquiring an additional 155,763 shares during the period. Finally, Marshall Wace LLP lifted its holdings in Comstock by 3,811.1% during the fourth quarter. Marshall Wace LLP now owns 669,494 shares of the company's stock valued at $2,517,000 after purchasing an additional 652,376 shares in the last quarter. 7.96% of the stock is owned by institutional investors and hedge funds.

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.

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