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

Comstock Inc. (NYSEAMERICAN:LODE) was the recipient of some unusual options trading activity on Friday. Traders acquired 3,001 put options on the stock. This represents an increase of approximately 76% compared to the typical volume of 1,708 put options.

Comstock Stock Up 2.4%

Shares of NYSEAMERICAN LODE traded up $0.08 during midday trading on Friday, hitting $3.40. The company’s stock had a trading volume of 365,956 shares, compared to its average volume of 2,149,649. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.54 and a quick ratio of 2.54. The firm has a market capitalization of $174.28 million, a price-to-earnings ratio of -2.83 and a beta of 1.25. The business’s fifty day simple moving average is $3.41 and its two-hundred day simple moving average is $3.27. Comstock has a 1 year low of $1.67 and a 1 year high of $4.80.

Hedge Funds Weigh In On Comstock

Several institutional investors have recently modified their holdings of LODE. Jefferies Financial Group Inc. purchased a new stake in shares of Comstock during the fourth quarter worth $39,000. Virtu Financial LLC acquired a new position in Comstock during the 3rd quarter worth $44,000. MML Investors Services LLC purchased a new stake in Comstock during the 4th quarter worth about $45,000. Marathon Capital Management raised its position in Comstock by 48.1% in the 3rd quarter. Marathon Capital Management now owns 20,000 shares of the company’s stock valued at $68,000 after purchasing an additional 6,500 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in Comstock in the 3rd quarter valued at about $78,000. Institutional investors and hedge funds own 7.96% of the company’s stock.

Wall Street Analyst Weigh In

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

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.