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Comstock Mining Inc (LODE)
:LODE
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Comstock Mining
(NYSE MKT:LODE)
Rating:53Neutral
Price Target:
$3.50
▲(0.86%Upside)
Comstock Mining (LODE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$113.30M
Dividend YieldN/A
Average Volume (3M)487.24K
Price to Earnings (P/E)―
Beta (1Y)1.57
Revenue Growth102.20%
EPS Growth-496.00%
CountryUS
Employees46
SectorReal Estate
Sector Strength64
IndustryReal Estate - Services
Share Statistics
EPS (TTM)-0.37
Shares Outstanding32,651,580
10 Day Avg. Volume548,593
30 Day Avg. Volume487,243
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.38
Price to Sales (P/S)0.00
P/FCF Ratio-1.34
Enterprise Value/Market Cap0.24
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
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 resources company focused on the exploration, development, and production of gold and silver, as well as other strategic materials essential for clean energy technologies. The company operates primarily in Nevada and focuses on resource-based growth, including sustainable mineral development and renewable energy initiatives.
How the Company Makes MoneyComstock Mining Inc. generates revenue through the exploration, extraction, and sale of precious metals, including gold and silver. The company leverages its mining operations in Nevada, which are rich in these resources, to produce and sell extracted materials to global markets. Additionally, Comstock Mining is involved in the development of technologies and processes to extract and process strategic materials for clean energy applications, potentially expanding its revenue streams through partnerships and collaborations within the renewable energy sector. The company's earnings are further supported by strategic joint ventures and partnerships that enhance its operational capabilities and market reach.
Comstock Mining Earnings Call Summary
Earnings Call Date:May 08, 2025
(Q1-2025)
| % Change Since: 33.98%|
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 faces significant financial challenges, including negative net income, declining revenues, high debt levels, and negative cash flow. These issues highlight severe profitability problems and unstable financial health.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 | ||||
| 1.02M | 954.27K | 22.70M | 2.52M | 6.84M | 6.41M | Total Assets |
| 39.57M | 91.31M | 106.47M | 100.05M | 126.95M | 43.12M | Total Debt |
| 5.41M | 13.80M | 10.93M | 8.73M | 17.53M | 3.56M | Net Debt |
| 4.40M | 12.85M | 7.15M | 6.21M | 11.62M | 1.13M | Total Liabilities |
| 16.08M | 31.54M | 28.19M | 43.69M | 33.98M | 11.34M | Stockholders Equity |
| 23.22M | 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
3.47
Price Trends
2.52
Positive
2.78
Positive
3.42
Positive
Market Momentum
0.26
Negative
67.38
Neutral
82.79
Negative
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 3.47 is above the 20-day moving average (MA) of 2.99, above the 50-day MA of 2.52, and above the 200-day MA of 3.42, indicating a bullish trend. The MACD of 0.26 indicates Negative momentum. The RSI at 67.38 is Neutral, neither overbought nor oversold. The STOCH value of 82.79 is Negative, 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 0 New Risks
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 |
|---|---|---|---|---|---|---|---|
61 Neutral | $2.85B | 10.96 | 0.41% | 8438.88% | 5.73% | -21.25% | |
61 Neutral | $323.52M | 18.73 | 2.01% | ― | -4.61% | ― | |
59 Neutral | $340.48M | 42.93 | 0.95% | ― | -5.86% | 59.60% | |
53 Neutral | $113.30M | ― | -83.23% | ― | 102.20% | -496.00% | |
40 Neutral | $4.72M | ― | -0.88% | ― | -3.95% | 14.63% |
* Real Estate Sector Average
Performance Comparison
LODE
Comstock Mining
3.47
1.42
69.27%
GBR
New Concept Energy
0.92
-0.54
-36.99%
TCI
Transcontinental Realty Investors
39.41
10.39
35.80%
RMAX
Re/Max Holdings
8.12
-0.34
-4.02%
Comstock Mining Corporate Events
M&A TransactionsBusiness Operations and Strategy
Comstock Mining Amends Purchase Agreement with Mackay
Positive
Jun 9, 2025
On June 6, 2025, Comstock Inc. amended its purchase agreement with Mackay Precious Metals Inc., increasing the cash purchase price to $2.95 million for its Northern Targets and 25% interest in Pelen LLC. The amendment also includes Mackay’s acquisition of 300 acres in Lyon County, expanding Comstock’s mineral claims, and grants Mackay exclusive negotiation rights for the Lucerne resource area. This transaction, along with previous lease revenues, totals over $6.7 million, supporting Comstock’s strategic focus on its central and southern district resources.
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.
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
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.