Comstock Inc. (NYSEAMERICAN:LODE – Get Free Report) shares traded up 11.2% during mid-day trading on Thursday after an insider bought additional shares in the company. The company traded as high as $4.64 and last traded at $4.36. 3,353,037 shares changed hands during mid-day trading, an increase of 105% from the average session volume of 1,632,784 shares. The stock had previously closed at $3.92.
Specifically, Director Leo M. Drozdoff purchased 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was purchased at an average cost of $4.11 per share, for a total transaction of $28,770.00. Following the completion of the transaction, the director owned 193,474 shares of the company’s stock, valued at $795,178.14. This trade represents a 3.75% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Corrado Degasperis bought 10,682 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was bought at an average price of $3.98 per share, with a total value of $42,514.36. Following the completion of the acquisition, the chief executive officer owned 181,500 shares in the company, valued at $722,370. This represents a 6.25% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In other news, Director Steven Yu-Tsung Pei bought 180,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were purchased at an average price of $3.93 per share, with a total value of $707,400.00. Following the purchase, the director owned 1,890,980 shares in the company, valued at approximately $7,431,551.40. The trade was a 10.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Comstock Stock Up 11.2%
The firm has a market cap of $330.97 million, a price-to-earnings ratio of -4.54 and a beta of 1.37. The firm has a 50-day moving average price of $3.41 and a two-hundred day moving average price of $3.40. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.51 and a current ratio of 4.51.
Institutional Trading of Comstock
Institutional investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. raised its position in Comstock by 133.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the company’s stock worth $26,000 after purchasing an additional 4,000 shares during the period. Wealth Effects LLC bought a new stake in Comstock in the 1st quarter worth $34,000. Jefferies Financial Group Inc. bought a new stake in Comstock in the 4th quarter worth $39,000. Virtu Financial LLC bought a new stake in Comstock in the 3rd quarter worth $44,000. Finally, MML Investors Services LLC bought a new stake in Comstock in the 4th quarter worth $45,000. Institutional investors and hedge funds own 7.96% of the company’s stock.
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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