Noble Capital analyst Mark Reichman downgraded Comstock Inc. (LODE) to Market Perform from Outperform. Despite the share price appreciating about 33% from November 4, when Noble previously upgraded Comstock, the analyst now says that upgrade “may have been too early” given that it appears the company’s near-term capital needs remain “significant.” The firm will reassess the value of the company’s businesses once Comstock’s commercial scale recycling facility is operational and plans for the company’s mining assets are more fully realized, the analyst tells investors.
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