Comstock Mining Inc (LODE)
:LODE
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Comstock Mining (LODE) AI Stock Analysis

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LODE

Comstock Mining

(LODE)

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Neutral 46 (OpenAI - 4o)
Rating:46Neutral
Price Target:
$3.00
▲(1.01% Upside)
Comstock Mining's overall stock score reflects significant financial challenges, with declining revenues and substantial losses. The technical analysis suggests a bearish trend, and the valuation metrics are concerning with a negative P/E ratio. However, the earnings call highlighted positive strategic advancements and financial milestones, such as debt elimination and a successful equity raise, which provide some optimism for future growth.

Comstock Mining (LODE) vs. SPDR S&P 500 ETF (SPY)

Comstock Mining Business Overview & Revenue Model

Company DescriptionComstock Mining Inc. (LODE) is a Nevada-based mining company primarily engaged in the exploration, development, and production of precious metals, particularly gold and silver. The company focuses on its operations in the Comstock District located in Storey County, Nevada, which is historically significant for its mineral wealth. Comstock Mining aims to leverage its extensive land holdings and mining operations to capitalize on rising metal prices, while also exploring opportunities for sustainable mining practices.
How the Company Makes MoneyComstock 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 Earnings Call Summary

Earnings Call Date:Oct 30, 2025
(Q3-2025)
|
% Change Since: |
Next Earnings Date:Mar 05, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mixed outlook. While the company achieved significant financial milestones such as a successful equity raise and debt elimination, challenges remain with revenue declines and increased expenses. However, the strategic advancements in solar recycling and permitting progress suggest a positive trajectory for future growth.
Q3-2025 Updates
Positive Updates
Successful Equity Raise
Comstock completed an oversubscribed equity raise generating $34.5 million in gross proceeds and netting $31.8 million, expanding their institutional shareholder base by over 30 new investors.
Debt Elimination
Comstock eliminated all debt, including $8.5 million from the previous year, strengthening their financial position significantly.
Advancements in Solar Recycling
The company advanced their solar recycling business with a $5.1 million investment in equipment for their Nevada facility, designed to process 100,000 tons per year.
Strategic Permitting Progress
Received notice from Nevada Department of Environmental Protection with a specific timeline for finalizing permits by Christmas, aligning with equipment arrival and commissioning plans.
Strong Cash Position
Ended the quarter with $31.7 million in cash and equivalents, with $12.4 million at Bioleum and net current assets of $21.3 million.
Negative Updates
Revenue Decline in Q3
Revenue declined in Q3 due to the end of lease revenue from sold mining assets and slower engagement in the metals market.
Higher SG&A and R&D Expenses
Increased expenses due to scaling businesses, including rent and personnel costs, along with some nonrecurring costs from extinguishing Northern Comstock obligations.
Company Guidance
During Comstock Inc.'s Third Quarter 2025 Earnings Call, significant financial guidance was provided, highlighting transformative steps taken this quarter. The company successfully completed an oversubscribed equity raise that netted $31.8 million, which expanded their institutional shareholder base by over 30 new investors. This capital injection has allowed Comstock to eliminate all of its prior $8.5 million debt and fund the launch of their R2v3 certified zero-landfill solar panel recycling business, with the first facility in Silver Springs, Nevada, designed to process approximately 100,000 tons per year. Furthermore, the company reported cash and equivalents of $31.7 million, including $12.4 million at Bioleum, alongside net current assets of $21.3 million. Comstock is positioned for growth, with plans to commission the solar panel recycling facility in the first quarter of 2026, while also advancing site selection for additional U.S. facilities.

Comstock Mining Financial Statement Overview

Summary
Comstock Mining faces significant financial challenges across its income statement, balance sheet, and cash flow. The company is experiencing declining revenues and substantial losses, although there are some signs of potential recovery in revenue growth. The balance sheet shows a stable equity position but poor returns on equity. Cash flow remains a concern, despite some improvement in free cash flow growth. Overall, the company needs to address its profitability and cash generation issues to improve its financial health.
Income Statement
35
Negative
Comstock Mining's income statement reveals significant challenges. The TTM data shows a negative gross profit margin of -72.45%, indicating that the cost of goods sold exceeds revenue. The net profit margin is deeply negative at -18.94%, reflecting substantial losses. Revenue has also declined by 15.31% in the TTM period, signaling a downturn in sales. Despite these issues, there was a positive revenue growth rate in 2023, suggesting some potential for recovery.
Balance Sheet
45
Neutral
The balance sheet shows a moderate debt-to-equity ratio of 0.24 in the TTM period, indicating manageable leverage. However, the return on equity is negative at -64.52%, highlighting inefficiencies in generating returns for shareholders. The equity ratio stands at 67.15%, suggesting a strong equity base relative to total assets, which provides some stability.
Cash Flow
40
Negative
Cash flow analysis indicates challenges, with a negative operating cash flow and free cash flow in the TTM period. However, the free cash flow to net income ratio is positive at 1.09, suggesting that the company is generating cash relative to its net losses. The free cash flow growth rate of 25.96% in the TTM period shows improvement, but the overall cash flow position remains weak.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue2.78M3.02M1.27M178.15K862.16K201.70K
Gross Profit-2.01M2.56M1.27M-3.55M590.08K-818.86K
EBITDA-47.55M-47.72M15.07M-41.36M-28.81M16.58M
Net Income-52.63M-53.32M9.16M-45.95M-24.58M14.93M
Balance Sheet
Total Assets176.29M91.31M106.47M100.05M126.95M43.12M
Cash, Cash Equivalents and Short-Term Investments31.71M954.27K22.70M2.52M6.84M6.41M
Total Debt27.83M13.80M10.93M8.73M17.53M3.56M
Total Liabilities54.60M31.54M28.19M43.69M33.98M11.34M
Stockholders Equity118.39M59.77M78.28M53.60M89.57M31.78M
Cash Flow
Free Cash Flow-24.75M-14.88M-27.64M-15.30M-7.57M-3.90M
Operating Cash Flow-22.81M-13.94M-13.63M-12.11M-7.49M-3.76M
Investing Cash Flow-10.71M-6.48M3.63M-3.73M-16.10M3.21M
Financing Cash Flow63.87M17.59M11.26M12.45M27.07M1.97M

Comstock Mining Technical Analysis

Technical Analysis Sentiment
Negative
Last Price2.97
Price Trends
50DMA
3.24
Negative
100DMA
3.19
Negative
200DMA
3.00
Negative
Market Momentum
MACD
-0.12
Negative
RSI
46.47
Neutral
STOCH
58.51
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LODE, the sentiment is Negative. The current price of 2.97 is below the 20-day moving average (MA) of 3.00, below the 50-day MA of 3.24, and below the 200-day MA of 3.00, indicating a bearish trend. The MACD of -0.12 indicates Negative momentum. The RSI at 46.47 is Neutral, neither overbought nor oversold. The STOCH value of 58.51 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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
$10.43B7.12-0.05%2.87%2.86%-36.73%
47
Neutral
$382.55M57.940.67%0.13%75.97%
46
Neutral
$152.25M-56.48%48.99%-47.78%
40
Neutral
$4.49M-73.45-1.70%4.08%-102.70%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
LODE
Comstock Mining
2.97
-0.47
-13.66%
GYRO
Gyrodyne Company Of America
9.58
-0.59
-5.80%
MAYS
JW Mays
39.12
-4.88
-11.09%
GBR
New Concept Energy
0.82
-0.36
-30.51%
TCI
Transcontinental Realty Investors
44.89
17.14
61.77%
UK
Ucommune International
1.05
-0.19
-15.32%

Comstock Mining Corporate Events

Comstock Mining’s Earnings Call: Mixed Sentiment and Strategic Growth
Nov 1, 2025

The recent earnings call from Comstock Mining presented a mixed sentiment, reflecting both achievements and challenges. The company celebrated significant financial milestones, such as a successful equity raise and the elimination of debt, which have strengthened its financial footing. However, the call also highlighted ongoing challenges, including revenue declines and increased expenses. Despite these hurdles, strategic advancements in solar recycling and permitting progress signal a positive trajectory for future growth.

Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Comstock Mining Reports Strong Q3 2025 Results
Positive
Oct 30, 2025

On October 30, 2025, Comstock Inc. announced its third quarter 2025 results, highlighting significant financial and operational achievements. The company completed a $34.5 million equity raise, eliminated debt, and funded the launch of its solar panel recycling business. Comstock also advanced its mining operations and expanded its Bioleum Corporation, securing strategic investments and partnerships. These developments position Comstock for growth in the renewable energy and mining sectors, with implications for increased production capacity and market presence.

The most recent analyst rating on (LODE) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on Comstock Mining stock, see the LODE Stock Forecast page.

Comstock Mining’s Earnings Call Highlights Growth and Challenges
Sep 1, 2025

The recent earnings call for Comstock Mining painted a predominantly positive picture, with notable achievements in funding and debt reduction, alongside promising developments in the solar panel recycling business. Despite facing challenges in real estate sales and uncertainty surrounding the Bioleum IPO timeline, the company’s advancements in the metals sector were highlighted as a major strength, overshadowing the less favorable aspects.

Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Comstock Mining Reports Strong Q2 Results and Growth
Positive
Aug 15, 2025

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 Inc. Reports Strong Q2 2025 Results
Aug 15, 2025

Comstock Inc. is a Nevada-based company that specializes in the commercialization of technologies for clean energy systems, focusing on recycling and converting under-utilized natural resources into reusable electrification metals. The company operates primarily in the renewable energy and mining sectors.

Business Operations and StrategyPrivate Placements and Financing
Comstock Mining Completes Stock Offering for $27.6 Million
Positive
Aug 14, 2025

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.

Business Operations and StrategyPrivate Placements and Financing
Comstock Mining Settles Convertible Note with Kips Bay
Positive
Aug 12, 2025

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.

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.Date of analysis: Nov 12, 2025