Comstock Sees Unusually High Options Volume (NYSEAMERICAN:LODE)

Comstock Inc. (NYSEAMERICAN:LODE) was the target of unusually large options trading on Tuesday. Stock traders bought 3,213 call options on the stock. This represents an increase of approximately 210% compared to the typical daily volume of 1,035 call options.

Comstock Stock Down 3.1%

Shares of LODE traded down $0.12 during mid-day trading on Tuesday, reaching $3.61. The company’s stock had a trading volume of 906,993 shares, compared to its average volume of 1,564,526. The company has a market cap of $185.20 million, a price-to-earnings ratio of -2.98 and a beta of 1.61. The business has a fifty day moving average of $3.70 and a 200 day moving average of $3.33. The company has a quick ratio of 2.54, a current ratio of 2.54 and a debt-to-equity ratio of 0.09. Comstock has a 1 year low of $1.67 and a 1 year high of $4.80.

Comstock (NYSEAMERICAN:LODE) last released its quarterly earnings data on Wednesday, October 29th. The company reported ($0.31) earnings per share for the quarter. Comstock had a negative net margin of 1,893.74% and a negative return on equity of 58.44%. The company had revenue of $0.05 million during the quarter. As a group, analysts forecast that Comstock will post -0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Noble Financial cut shares of Comstock from an “outperform” rating to a “market perform” rating in a report on Wednesday, December 24th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $4.00.

Institutional Investors Weigh In On Comstock

Several institutional investors and hedge funds have recently added to or reduced their stakes in LODE. Virtu Financial LLC bought a new position in shares of Comstock in the third quarter valued at approximately $44,000. Belvedere Trading LLC acquired a new position in Comstock in the 2nd quarter valued at $55,000. Marathon Capital Management raised its holdings in Comstock by 48.1% in the 3rd quarter. Marathon Capital Management now owns 20,000 shares of the company’s stock worth $68,000 after acquiring an additional 6,500 shares during the period. Qube Research & Technologies Ltd acquired a new position in Comstock during the 3rd quarter worth $78,000. Finally, Citizens Financial Group Inc. RI acquired a new position in Comstock during the 2nd quarter worth $152,000. 7.96% of the stock is currently owned by institutional investors and hedge funds.

Comstock Company 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.