Guru Arnold Van Den Berg (Trades, Portfolio) began his investment career 48 years ago working for John Hancock Insurance and then for Capital Securities. During this time, Van Den Berg saw some of the greatest bear markets in history, which helped him to fully learn and understand how the stock market functioned.
In 1974, he founded Van Den Berg Management, which is now known as Century Management. Today Century Management currently owns 77 stocks with a total value of $583 million.
At the end of the first quarter, Van Den Berg added 965,690 shares of Comstock Mining Inc. (LODE, Financial).
Comstock Mining is a Nevada-based gold and silver mining company with extensive, contiguous property in the historic Comstock and Silver City mining districts. The company district is located within the western portion of the Basin and Range province of Nevada, between Reno and Carson City. Comstock Mining received the 2015 Nevada Excellence in Mine Reclamation award.
Comstock Mining has a market cap of $63.64 million, an enterprise value of $65.77 million, a P/B ratio of 3.33 and a quick ratio of 0.32.
There are a few good signs hidden within the Comstock Mining financial statements that may have had an influence on Van Den Berg's decision to add 965,690 shares of the company. Revenues have increased at an average rate of 22% annually over the previous 10 years and the company's profits have increased to $6.20 million in December 2015. This is a good sign because the company is now profiting from its business.
The company produced approximately 22,925 gold equivalent ounces in 2014, the company’s second full year in production, and 18,455 gold equivalent ounces in 2015. This increases the company's overall chances of producing more gold and silver, which could lead to increased revenues and profits that could raise the stock price of the company.
Arnold Van Den Berg (Trades, Portfolio) is an intelligent investor with more than 48 years of investment experience. He potentially sees hidden value within the company's recent revenues and profits, as well as the company's expansion with the purchase of additional properties in the Comstock District where it operate its business.
Cheers to your investment success.
