Investors Purchase Large Volume of Comstock Put Options (NYSEAMERICAN:LODE)

Comstock Inc. (NYSEAMERICAN:LODE) was the recipient of some unusual options trading activity on Friday. Stock traders acquired 3,001 put options on the company. This is an increase of 76% compared to the average daily volume of 1,708 put options.

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, According to MarketBeat.com, Comstock has a consensus rating of “Hold” and an average price target of $4.00.

Institutional Trading of Comstock

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC bought a new position in Comstock in the 4th quarter worth about $303,000. Balyasny Asset Management L.P. purchased a new position in Comstock during the 4th quarter valued at about $100,000. 683 Capital Management LLC bought a new stake in shares of Comstock during the fourth quarter valued at about $1,039,000. ExodusPoint Capital Management LP bought a new stake in shares of Comstock during the fourth quarter valued at about $235,000. Finally, Royal Bank of Canada purchased a new stake in shares of Comstock in the fourth quarter worth about $1,798,000. 7.96% of the stock is currently owned by institutional investors.

Comstock Stock Down 1.5%

Comstock stock opened at $3.27 on Friday. The firm has a 50 day simple moving average of $3.40 and a 200 day simple moving average of $3.27. The company has a current ratio of 2.54, a quick 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. The firm has a market capitalization of $167.62 million, a price-to-earnings ratio of -2.73 and a beta of 1.25.

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.