Comstock (NYSEAMERICAN:LODE) Shares Down 1.3% – What’s Next?

Comstock Inc. (NYSEAMERICAN:LODE)’s share price dropped 1.3% during mid-day trading on Friday . The stock traded as low as $2.95 and last traded at $3.10. Approximately 1,370,320 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 2,344,126 shares. The stock had previously closed at $3.14.

Analyst Ratings Changes

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

Comstock Price Performance

The company has a quick ratio of 2.54, a current ratio of 2.54 and a debt-to-equity ratio of 0.09. The company’s fifty day moving average price is $3.47 and its 200 day moving average price is $3.25. The company has a market capitalization of $158.91 million, a P/E ratio of -2.58 and a beta of 1.66.

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

Institutional Trading of Comstock

Hedge funds have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. acquired a new stake in shares of Comstock in the fourth quarter valued at about $39,000. Virtu Financial LLC acquired a new stake in Comstock during the 3rd quarter valued at approximately $44,000. MML Investors Services LLC bought a new position in Comstock during the 4th quarter worth approximately $45,000. Marathon Capital Management lifted its position in shares of 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 purchasing an additional 6,500 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Comstock in the 3rd quarter worth approximately $78,000. 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.