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Comstock Mining (LODE)
:LODE
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Comstock Mining
(NYSE MKT:LODE)
Rating:54Neutral
Price Target:
$3.50
▲(20.27%Upside)
Comstock Mining (LODE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$83.26M
Dividend YieldN/A
Average Volume (3M)461.73K
Price to Earnings (P/E)―
Beta (1Y)1.48
Revenue Growth102.20%
EPS Growth-496.00%
CountryUS
Employees46
SectorReal Estate
Sector Strength67
IndustryReal Estate - Services
Share Statistics
EPS (TTM)-0.37
Shares Outstanding28,612,576
10 Day Avg. Volume549,159
30 Day Avg. Volume461,732
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.32
Price to Sales (P/S)0.00
P/FCF Ratio-5.65
Enterprise Value/Market Cap99.95K
Enterprise Value/Revenue10.59
Enterprise Value/Gross Profit-82.41
Enterprise Value/Ebitda-1.06
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusHold
Number of Analyst Covering1
Comstock Mining Business Overview & Revenue Model
Company DescriptionComstock Mining Inc. (LODE) is a diversified natural resource company primarily focused on the exploration, development, and production of gold and silver mining properties. The company operates within the mining sector and is dedicated to sustainable resource development, leveraging innovative technologies to optimize its mining processes. Comstock Mining's core assets include properties in the historic Comstock District in Nevada, known for its rich mineral deposits.
How the Company Makes MoneyComstock Mining generates revenue through the exploration and extraction of precious metals, primarily gold and silver, from its mining operations. The company earns money by selling the extracted metals to refineries and market buyers. A significant portion of its earnings is influenced by the commodities market prices for gold and silver, which can fluctuate based on global economic conditions and investor demand. Additionally, the company may engage in strategic partnerships and joint ventures to enhance its operational capabilities and access to new technologies, further contributing to its revenue streams. Comstock Mining also explores opportunities in the development of environmentally friendly technologies and practices, which could provide additional revenue channels in the future.
Comstock Mining Earnings Call Summary
Earnings Call Date:May 08, 2025
(Q1-2025)
| % Change Since: 12.36%|
Next Earnings Date:Aug 12, 2025
Earnings Call Sentiment Positive
The earnings call reflects a positive outlook with notable revenue growth, strategic partnerships, and innovative advancements in both the metals and fuels segments. However, challenges such as increased R&D expenses and the slow monetization of mining assets present areas of concern. Overall, the highlights significantly outweigh the lowlights, indicating a robust strategic direction for Comstock.Q1-2025 Updates
Positive Updates
Significant Revenue Growth in Comstock Metals
Comstock Metals revenue soared in the first quarter with over 4 million pounds of recyclable material received and $1.34 million invoiced compared to just over $350,000 last quarter, marking nearly a four-fold increase.
Strategic Partnerships and Investments
Comstock has attracted Keen and Aligned Capital into its shareholder base and engaged sophisticated industry partners such as NREL, Marathon, and RWE. The company completed two successful settlements of prior outstanding commitments, eliminating significant upcoming cash payments and recording a $1 million financial gain.
R&D and Innovations
R&D expenses increased by $2.4 million in Q1, with significant collaboration with the National Renewable Energy Lab (NREL) aiming to improve yields and reduce costs. The company hired Dr. Elvis Ebikade, a notable addition to the biofuels team, to lead SAF initiatives.
Master Services Agreement with RWE
Comstock Metals entered into a master services agreement with RWE Clean Energy for recycling and decommissioning services, establishing an industry standard for solar panel end-of-life solutions.
R2 Certification for Metals
Comstock Metals received R2 Certification, becoming the only company in North America with a certified zero-landfill solution for solar panel recycling.
Negative Updates
Increased R&D Expenses
R&D spending was up by $2.4 million compared to the prior year, including a one-time $1.5 million non-cash expense charge. Ongoing collaborations and acquisitions also contributed to increased expenses.
Challenges with Convertible Notes
Comstock raised $10.6 million early in the first quarter from the Kips Bay Convertible Note but still faces challenges with $4.35 million outstanding and the need for another $1.7 million to extinguish the note.
Slow Monetization of Mining Assets
While there is significant interest in Comstock's mining assets due to rising gold and silver prices, monetization of these assets has been slow and remains a strategic objective for the year.
Company Guidance
During Comstock's Q1 2025 earnings call, Corrado De Gasperis outlined several key metrics and strategic updates. The company reported a significant increase in revenue for Comstock Metals, rising nearly four-fold to $1.34 million compared to the previous quarter, and projected 2025 revenue guidance was increased to over $3 million. Comstock Fuels is advancing with its Series A funding, targeting at least $50 million, and plans to spin out as a separate entity with a valuation potentially exceeding $700 million. R&D expenses rose by $2.4 million due to strategic investments, including a nearly $1 million gain from settling outstanding commitments. The company raised $10.6 million from a convertible note and reduced its outstanding balance to $4.35 million. The outstanding share count is expected to reach around 33 million shares upon the spin-off of Comstock Fuels. Additional milestones include expanding the metals facility's capacity to 100,000 tons annually and selecting a site for the first bio-refinery project in Oklahoma.Comstock Mining Financial Statement Overview
Summary
Comstock Mining is facing severe financial challenges; negative net income, declining revenues, high leverage, and cash flow issues indicate a precarious financial position.Income Statement
The income statement reveals significant challenges for Comstock Mining, with persistent negative net income and declining revenues. The gross profit margin is negative in the TTM (Trailing-Twelve-Months) period, indicating cost structure issues. The net profit margin is also deeply negative, reflecting ongoing unprofitability. Revenue growth has been volatile, with a significant drop in TTM revenue compared to the previous annual report, highlighting an unstable revenue trajectory. Overall, the financial health from the income statement perspective is concerning.12
Very Negative
Balance Sheet
The balance sheet shows a highly leveraged position, with a debt-to-equity ratio that is uncomfortably high, primarily due to substantial total debt compared to equity. The company's equity ratio is moderate, indicating some level of asset backing by equity, but the high liabilities remain a risk. The return on equity is negative, reflecting poor profitability against the shareholders’ investment. Overall, the balance sheet is weak, with significant leverage posing a risk to financial stability.22
Negative
Cash Flow
Cash flow analysis indicates negative free cash flow, suggesting the company is not generating sufficient cash from operations to cover its capital expenditures. The operating cash flow to net income ratio is less relevant due to the negative net income. The company has struggled with cash flow generation, and the free cash flow growth rate is negative, further reflecting cash flow challenges. This signals potential liquidity issues and an inability to self-fund operations efficiently.18
Very Negative
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 785.82B | 3.02M | 1.27M | 178.15K | 862.16K | 201.70K |
| Gross Profit | |||||
| -100.98B | 2.56M | 1.27M | -3.55M | 590.08K | -818.86K |
| EBIT | |||||
| -7.04T | -39.67M | -12.60M | -20.42M | -6.41M | -5.47M |
| EBITDA | |||||
| -7.84T | -47.72M | 15.07M | -41.36M | -28.81M | -4.24M |
| Net Income Common Stockholders | |||||
| -9.09T | -53.32M | 9.16M | -72.27M | -24.58M | 14.93M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 954.27K | 954.27K | 22.70M | 2.52M | 6.84M | 6.41M |
| Total Assets | |||||
| 91.31M | 91.31M | 106.47M | 100.05M | 126.95M | 43.12M |
| Total Debt | |||||
| 13.80M | 13.80M | 10.93M | 8.73M | 17.53M | 3.56M |
| Net Debt | |||||
| 12.85M | 12.85M | 7.15M | 6.21M | 11.62M | 1.13M |
| Total Liabilities | |||||
| 31.54M | 31.54M | 28.19M | 43.69M | 33.98M | 11.34M |
| Stockholders Equity | |||||
| 59.77M | 59.77M | 78.28M | 53.60M | 89.57M | 31.78M |
| Cash Flow | Free Cash Flow | ||||
| -16.36M | -14.88M | -27.64M | -15.30M | -7.57M | -3.90M |
| Operating Cash Flow | |||||
| -15.07M | -13.94M | -13.63M | -12.11M | -7.49M | -3.76M |
| Investing Cash Flow | |||||
| -1.82T | -6.48M | 3.63M | -3.73M | -16.10M | 3.21M |
| Financing Cash Flow | |||||
| 24.19M | 17.59M | 11.26M | 12.45M | 27.07M | 1.97M |
Comstock Mining Technical Analysis
Positive
2.91
Price Trends
2.42
Positive
2.86
Positive
3.36
Negative
Market Momentum
0.20
Negative
57.37
Neutral
65.45
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LODE, the sentiment is Positive. The current price of 2.91 is above the 20-day moving average (MA) of 2.71, above the 50-day MA of 2.42, and below the 200-day MA of 3.36, indicating a neutral trend. The MACD of 0.20 indicates Negative momentum. The RSI at 57.37 is Neutral, neither overbought nor oversold. The STOCH value of 65.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for LODE.
Comstock Mining Risk Analysis
Comstock Mining disclosed 88 risk factors in its most recent earnings report. Comstock Mining reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
Our plans to expand our revenue sources through commercializing our market-ready technologies and developing new technology with commercial applicability may not be successful and could materially adversely affect our long-term business, financial condition and operating results. Q4, 2024
2.
Our current and future licensing arrangements may not be successful and may make us susceptible to the actions of third parties over whom we have limited control. Q4, 2024
3.
We face risks to our business and proprietary confidential information due to the use of artificial intelligence systems. Q4, 2024
Comstock Mining Peers Comparison
Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $344.45M | 42.84 | 0.95% | ― | -5.86% | 59.60% | |
61 Neutral | $300.81M | 17.42 | 2.01% | ― | -4.61% | ― | |
61 Neutral | $2.81B | 10.77 | 0.50% | 8507.81% | 5.71% | -20.80% | |
54 Neutral | $83.26M | ― | -83.23% | ― | 102.20% | -496.00% | |
40 Neutral | $4.66M | ― | -0.88% | ― | -3.95% | 14.63% |
* Real Estate Sector Average
Performance Comparison
LODE
Comstock Mining
2.91
0.38
15.02%
GBR
New Concept Energy
0.91
-0.79
-46.47%
TCI
Transcontinental Realty Investors
39.33
10.55
36.66%
RMAX
Re/Max Holdings
7.55
-0.54
-6.67%
Comstock Mining Corporate Events
Private Placements and FinancingBusiness Operations and Strategy
Comstock Mining Completes Separation of Renewable Fuels Segment
Positive
May 28, 2025
On May 22, 2025, Comstock Inc. announced the completion of the separation of its renewable fuels segment into Bioleum Corporation, alongside a $20 million Series A equity investment. This strategic move positions Comstock with two high-growth entities, each with distinct business profiles, enabling them to thrive independently. Bioleum, focusing on lignocellulosic biomass conversion, aims to accelerate its development with the new capital, while Comstock Metals continues to expand its sustainable metal recycling operations. The separation allows both companies to pursue tailored growth strategies, enhancing capital efficiency and value creation for stakeholders.
The most recent analyst rating on (LODE) stock is a Buy with a $2.60 price target. To see the full list of analyst forecasts on Comstock Mining stock, see the LODE Stock Forecast page.
Executive/Board ChangesShareholder Meetings
Comstock Mining Holds Annual General Meeting 2025
Neutral
May 27, 2025
On May 22, 2025, Comstock Inc. held its Annual General Meeting of Stockholders where three key proposals were voted on. The stockholders elected seven directors to serve until the 2026 AGM, ratified Assure CPA, LLC as the independent public accounting firm for 2025, and approved a non-binding advisory resolution on executive compensation.
The most recent analyst rating on (LODE) stock is a Buy with a $2.60 price target. To see the full list of analyst forecasts on Comstock Mining stock, see the LODE Stock Forecast page.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.