Comstock Mining (LODE) AI Stock Analysis

• Market Cap: $109.24M
• Dividend Yield: N/A
• Average Volume (3M): 371.15K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.47
• Revenue Growth: 102.20%
• EPS Growth: -496.00%
• Country: US
• Employees: 46
• Sector: Basic Materials
• Sector Strength: 57
• Industry: Real Estate - Services
• EPS (TTM): -0.41
• Shares Outstanding: 32,416,164
• 10 Day Avg. Volume: 356,861
• 30 Day Avg. Volume: 371,147
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 0.82
• Enterprise Value/Revenue: 26.56
• Enterprise Value/Gross Profit: 70.89
• Enterprise Value/Ebitda: -1.77
• 1Y Price Target: $7.75
• Price Target Upside: 129.97% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 49 Neutral
• Price Target: $3.50 ▲(3.86% Upside)

The overall stock score of 49 reflects significant financial weaknesses, including profitability challenges and high leverage. Despite a positive earnings call and beneficial corporate events, these factors are outweighed by the financial instability and weak technical signals.

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 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 Financial Statement Overview

Summary

Comstock Mining faces severe financial challenges, with negative profitability, high leverage, and liquidity issues. The income statement, balance sheet, and cash flow analyses all reflect 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.

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.

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.

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

Comstock Mining Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3.37
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: 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 3.37 is below the 20-day moving average (MA) of 3.52, below the 50-day MA of 3.53, and below the 200-day MA of 3.42, indicating a bearish trend. The MACD of -0.06 indicates Positive momentum. The RSI at 46.19 is Neutral, neither overbought nor oversold. The STOCH value of 20.93 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for LODE.

Comstock Mining Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LODE	49 Neutral	$109.24M	―	-83.23%	―	102.20%	-496.00%
Sector *	44 Neutral	C$857.60M	-6.73	-14.95%	2.79%	16.39%	-27.50%
GYRO	―	$22.08M	―		―	―	―
MAYS	―	$78.11M	―	-0.14%	―	―	―
RMAX	63 Neutral	$0.00	16.57	2.21%	―	-5.21%	―
TCI	55 Neutral	$362.85M	45.75	0.95%	―	-5.86%	59.60%
GBR	40 Neutral	$4.23M	―	-0.88%	―	-3.95%	14.63%

Comstock Mining Corporate Events

Comstock Mining Amends Land Purchase Agreement Again

Comstock Exploration and Development LLC, a subsidiary of Comstock Inc., has been actively involved in a series of amendments to a purchase agreement with Decommissioning Services LLC for acquiring 190 industrial acres in Lyon County, Nevada. The agreement, initially set in April 2022, has undergone several amendments, including changes in purchase price, stock issuance, and payment terms, with the latest amendment extending the closing date to December 31, 2025. These strategic adjustments aim to secure the land acquisition while managing financial obligations effectively.

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 Amends Purchase Agreement with Mackay

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.

Comstock Mining Completes Separation of Renewable Fuels Segment

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.

Comstock Mining Holds Annual General Meeting 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.