Comstock Mining (LODE) AI Stock Analysis

• Market Cap: $158.14M
• Dividend Yield: N/A
• Average Volume (3M): 1.17M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.53
• Revenue Growth: 58.56%
• EPS Growth: -482.56%
• Country: US
• Employees: 46
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Real Estate - Services
• EPS (TTM): -0.27
• Shares Outstanding: 49,264,248
• 10 Day Avg. Volume: 1,213,982
• 30 Day Avg. Volume: 1,167,996
• PEG Ratio: <0.01
• Price to Book (P/B): 2.23
• Price to Sales (P/S): 44.12
• P/FCF Ratio: -8.95
• Enterprise Value/Market Cap: 0.80
• Enterprise Value/Revenue: 38.57
• Enterprise Value/Gross Profit: 112.16
• Enterprise Value/Ebitda: -2.53
• 1Y Price Target: $3.50
• Price Target Upside: 9.03% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 3

• Rating: 49 Neutral
• Price Target: $3.00 ▼(-6.54% Downside)

Comstock Mining's overall stock score is primarily impacted by its weak financial performance, characterized by declining revenue, persistent losses, and high leverage. While the earnings call provided positive insights into strategic initiatives and funding, these are overshadowed by the financial challenges. Technical analysis shows some short-term momentum, but valuation remains unattractive due to ongoing losses. The company's strategic moves in the solar panel recycling business offer potential, but significant risks remain.

Comstock Mining Business Overview & Revenue Model

Company Description

Comstock Inc. engages in the exploration, development, and production of mineral properties in Nevada. The company explores for gold, silver, lithium, nickel, cobalt, and mercury ores. It operates in two segments, Mining and Real Estate. The Mining segment owns and controls approximately 9,358 acres of mining claims and parcels, including approximately 2,396 acres of patented claims and surface parcels; and approximately 6,962 acres of unpatented mining claims in the Comstock and Silver City districts, as well as focuses on exploring and developing properties in the Lucerne and Dayton resource areas; and Occidental and Gold Hill mineral properties. The Real Estate segment comprises land and real estate rental properties, as well as the Gold Hill Hotel and Daney Ranch properties. It has collaboration agreements with Oro Industries Inc. and Mercury Clean Up, LLC for the manufacture and deployment of mercury remediation systems with proprietary mechanical, hydro, electro-chemical, and oxidation processes to reclaim and remediate mercury from soils, waste, and tailings. The company was formerly known as Comstock Mining Inc. and changed its name to Comstock Inc. in May 2022. Comstock Inc. was incorporated in 2008 and is based in Virginia City, Nevada.

How the Company Makes Money

Comstock Mining generates revenue primarily through the sale of gold and silver extracted from its mining operations. The company utilizes a combination of traditional mining methods and innovative processing techniques to maximize the recovery of precious metals from its ore. Key revenue streams include the direct sale of gold and silver bullion, as well as potential partnerships with other mining or exploration companies for joint ventures and exploration projects. Additionally, fluctuations in precious metal prices significantly impact the company's earnings, making it sensitive to market trends. The company may also seek to monetize its land assets through leasing agreements or collaborations with other firms interested in mineral exploration.

Comstock Mining Financial Statement Overview

Summary

Comstock Mining faces significant financial challenges, with declining revenue, persistent losses, increased leverage, and negative returns on equity. Cash flow issues persist, despite some positive signs like asset growth and free cash flow exceeding net income. Overall, the financial health is weak, with high leverage and operational inefficiencies posing substantial risks.

Income Statement

Comstock Mining's income statement reveals significant challenges. The company has experienced negative revenue growth in the TTM period, with a decline of 2.82%. Gross profit margin has decreased from 85% in 2024 to 37.47% in the TTM period, indicating reduced efficiency in generating profit from sales. Net profit margin remains negative, reflecting ongoing losses, and EBIT and EBITDA margins are also negative, highlighting operational inefficiencies. Despite a brief period of positive net profit margin in 2023, the overall trajectory shows financial instability.

Balance Sheet

The balance sheet shows a mixed picture. The debt-to-equity ratio has increased significantly in the TTM period, suggesting higher leverage and potential financial risk. Return on equity remains negative, indicating that the company is not generating returns for shareholders. However, the equity ratio is relatively stable, suggesting that a significant portion of the company's assets are financed by equity rather than debt. The increase in total assets over time is a positive sign, but the high leverage poses a risk.

Cash Flow

Cash flow analysis indicates ongoing challenges. Operating cash flow and free cash flow are both negative, although there is a slight improvement in free cash flow growth in the TTM period. The operating cash flow to net income ratio is negative, reflecting cash flow issues relative to net income. The free cash flow to net income ratio is above 1, indicating that free cash flow exceeds net income, but this is primarily due to negative net income figures. Overall, cash flow management remains a concern.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.28M	3.02M	1.27M	178.15K	862.16K	201.70K
Gross Profit	1.13M	2.56M	1.27M	-3.55M	590.08K	-818.86K
EBITDA	-50.01M	-47.72M	15.07M	-41.36M	-28.81M	16.58M
Net Income	-54.71M	-53.32M	9.16M	-45.95M	-24.58M	14.93M
Balance Sheet
Total Assets	148.22M	91.31M	106.47M	100.05M	126.95M	43.12M
Cash, Cash Equivalents and Short-Term Investments	18.59M	954.27K	22.70M	2.52M	6.84M	6.41M
Total Debt	30.52M	13.80M	10.93M	8.73M	17.53M	3.56M
Total Liabilities	56.36M	31.54M	28.19M	43.69M	33.98M	11.34M
Stockholders Equity	88.56M	59.77M	78.28M	53.60M	89.57M	31.78M
Cash Flow
Free Cash Flow	-19.65M	-14.88M	-27.64M	-15.30M	-7.57M	-3.90M
Operating Cash Flow	-17.89M	-13.94M	-13.63M	-12.11M	-7.49M	-3.76M
Investing Cash Flow	-5.63M	-6.48M	3.63M	-3.73M	-16.10M	3.21M
Financing Cash Flow	42.00M	17.59M	11.26M	12.45M	27.07M	1.97M

Comstock Mining Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.21
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: 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 3.21 is above the 20-day moving average (MA) of 2.62, above the 50-day MA of 2.95, and above the 200-day MA of 3.21, indicating a bullish trend. The MACD of 0.06 indicates Negative momentum. The RSI at 66.13 is Neutral, neither overbought nor oversold. The STOCH value of 86.46 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for LODE.

Comstock Mining Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RMAX	71 Outperform	318.40M	20.75	2.15%	―	-5.21%	0.00%
TCI	55 Neutral	403.89M	61.18	0.79%	―	-4.20%	11.20%
LODE	49 Neutral	$158.14M	―	-66.94%	―	58.56%	-482.56%
GBR	40 Neutral	5.39M	-88.24	0.00%	―	4.14%	-124.53%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%

Comstock Mining Corporate Events

Comstock Mining Reports Strong Q2 Results and Growth

On August 14, 2025, Comstock Inc. announced its second quarter results, highlighting significant financial and operational achievements. The company raised $30 million to fund solar panel recycling facilities and eliminate debt, while also completing the separation of its fuels segment into Bioleum Corporation. Comstock Metals, a leader in zero-waste solar panel recycling, recorded $2.31 million in billings and expanded its operations. Meanwhile, Bioleum secured strategic investments and advanced its biofuel production capabilities. These developments position Comstock and Bioleum for accelerated growth and enhanced industry positioning.

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.

Comstock Mining Completes Stock Offering for $27.6 Million

On August 12, 2025, Comstock Inc. entered into an Underwriting Agreement with Titan Partners Group LLC to sell 13,333,334 shares of its common stock, with the option for the underwriter to purchase an additional 2,000,000 shares. The offering closed on August 14, 2025, resulting in net proceeds of approximately $27.6 million, which the company plans to use for general corporate purposes, including debt repayment and development expenses for its first industry-scale facility. This strategic move is expected to bolster Comstock’s financial position and support its commercialization efforts in the clean energy sector.

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.

Comstock Mining Settles Convertible Note with Kips Bay

On August 8, 2025, Comstock Inc. amended its promissory notes with Georges Trust and Alvin Fund, issuing 2,900,000 shares of restricted Common Stock as partial consideration for the $8,390,000 debt. The company also extended the expiration date of certain stock purchase warrants to December 31, 2027. Additionally, on August 12, 2025, Comstock entered into a payoff agreement with Kips Bay Select, settling a $10,638,298 convertible promissory note with a $2,500,000 cash payment and 447,724 shares of Common Stock. These financial maneuvers aim to optimize Comstock’s debt management and improve its financial standing.

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.