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Comstock Mining Inc (LODE)
:LODE
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Comstock Mining
(NYSE MKT:LODE)
45Neutral
Comstock Mining (LODE) vs. S&P 500 (SPY)
Market Cap
$63.31M
Dividend YieldN/A
Average Volume (3M)430.82K
Price to Earnings (P/E)―
Beta (1Y)1.29
Revenue Growth136.66%
EPS Growth-532.74%
CountryUS
Employees46
SectorReal Estate
Sector Strength67
IndustryReal Estate - Services
Share Statistics
EPS (TTM)-2.96
Shares Outstanding25,323,393
10 Day Avg. Volume352,636
30 Day Avg. Volume430,820
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)22.74
Price to Cash Flow (P/CF)-4.00
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusHold
Number of Analyst Covering1
Comstock Mining Business Overview & Revenue Model
Company DescriptionComstock 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 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 Financial Statement Overview
Summary
Comstock Mining's financial performance indicates challenges with profitability and cash flow, despite revenue growth. The income statement shows operational inefficiencies with negative EBIT and EBITDA margins. The balance sheet reveals a strong equity position but rising debt levels pose leverage risks. Cash flow struggles with negative free cash flow and operating cash flow signal liquidity issues.Income Statement
Comstock Mining shows a volatile revenue trajectory with significant fluctuations in net income, reflecting operational challenges. The 2024 revenue increased significantly from 2023, suggesting some growth potential, yet the negative EBIT and EBITDA margins highlight profitability issues. The gross profit margin is positive but overshadowed by substantial net losses, indicating critical operational efficiencies need improvement.40
Negative
Balance Sheet
The balance sheet shows a relatively high stockholders' equity in 2024 compared to total assets, suggesting a strong equity position. However, the debt-to-equity ratio increased due to rising debt levels, introducing potential leverage risks. The equity ratio remains stable, highlighting a solid capital structure but caution is warranted due to increasing liabilities.50
Neutral
Cash Flow
Cash flow analysis reveals ongoing struggles with negative free cash flow and operating cash flow, signaling liquidity issues. Although there is a slight improvement in free cash flow growth from 2023 to 2024, the operating cash flow to net income ratio is negative, indicating significant cash burn and inefficiencies in transforming income into cash.35
Negative
| 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 | EBIT |
| -39.67M | -12.60M | -20.42M | -6.41M | -5.47M | EBITDA |
| -48.19M | 15.07M | -41.36M | -28.81M | -4.24M | Net Income Common Stockholders |
| -53.32M | 9.16M | -72.27M | -24.58M | 14.93M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 954.27K | 22.70M | 2.52M | 6.84M | 6.41M | Total Assets |
| 91.31M | 106.47M | 100.05M | 126.95M | 43.12M | Total Debt |
| 5.32M | 10.93M | 8.73M | 17.53M | 3.56M | Net Debt |
| 5.32M | 7.15M | 6.21M | 11.62M | 1.13M | 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
Negative
2.54
Price Trends
3.05
Negative
3.65
Negative
3.20
Negative
Market Momentum
-0.15
Negative
44.34
Neutral
22.81
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 2.54 is below the 20-day moving average (MA) of 2.54, below the 50-day MA of 3.05, and below the 200-day MA of 3.20, indicating a bearish trend. The MACD of -0.15 indicates Negative momentum. The RSI at 44.34 is Neutral, neither overbought nor oversold. The STOCH value of 22.81 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
Performance Comparison
LODE
Comstock Mining
2.54
-1.24
-32.80%
ASM
Avino Silver & Gold
1.89
1.13
148.68%
FSM
Fortuna Silver Mines
6.12
2.29
59.79%
GORO
Gold Resource
0.54
0.05
10.20%
MUX
McEwen Mining
7.70
-2.90
-27.36%
USAS
Americas Gold and Silver
0.54
0.33
157.14%
Comstock Mining Earnings Call Summary
Earnings Call Date: Mar 6, 2025 | % Change Since: -3.79% | Next Earnings Date: May 6, 2025
Earnings Call Sentiment Positive
The earnings call highlighted significant advancements in technology and strategic partnerships, leading to increased revenue projections and successful collaborations, particularly with Comstock Fuels and Marathon Petroleum. However, the company also faced a substantial net loss for the year and a notable write-down of intangible assets, indicating challenges in financial performance. Despite these financial setbacks, the strategic initiatives and technological advancements provide a positive outlook for future growth.Highlights
Solar Cycle Recycling Technology Advancement
Comstock Metals advanced their solar cycle recycling technology to TRL 7, achieving a fully operational facility capable of recovering 100% of metals, glass, and minerals. This resulted in increasing revenues by almost 50% through a zero landfill solution.
Comstock Fuels Achievements
Comstock Fuels integrated critical technologies and partners, achieving industry-leading yields up to 140 gasoline gallon equivalents per ton of dry wood, double the next competitor. Secured $3 million in incentive awards from Oklahoma and a $152 million bond allocation.
Strategic Partnerships and Investments
Collaboration with Marathon Petroleum, including a $14 million investment and a joint product development agreement. Valuation for Comstock Fuels capped at $700 million.
Revenue Growth
Company-wide revenues grew to $3 million in 2024 from $1.3 million in 2023, with significant contributions from the solar panel recycling facility.
Lowlights
Net Loss for 2024
Comstock reported an overall net loss of $53 million for 2024, with several nonrecurring one-time items affecting performance.
Intangible Assets Write-down
An $8.7 million write-down of intangible assets related to previous work on a battery recycling system.
Company Guidance
During the call, Comstock's management provided detailed guidance and metrics for their 2025 outlook and achievements in 2024. Comstock Metals' solar panel recycling facility reached Technology Readiness Level 7 and now operates with a team of 13, recovering 100% of materials and offering a zero landfill solution, which increased revenues by almost 50%. Looking ahead, they plan to invest $6 million in CapEx to scale up their first industry-scale facility by 2026. Comstock Fuels achieved a yield of up to 140 gasoline gallon equivalents per ton of dry wood, outperforming competitors, and secured $152 million in tax-free bond allocations from Oklahoma. They closed a $14 million strategic investment with Marathon Petroleum, valuing Comstock Fuels at $700 million. Financially, Comstock reported a net loss of $53 million in 2024, with revenues growing to $3 million, up from $1.3 million in 2023, and ended the year with $1 million in cash. The company plans to raise further capital through equity and debt securities and expects significant revenue growth by 2026.Comstock Mining Corporate Events
M&A TransactionsBusiness Operations and Strategy
Comstock Mining Sells Stake to Mackay Precious Metals
Positive
Dec 20, 2024
Comstock Inc. has sold its entire interest in Comstock Northern Exploration LLC and a 25% stake in Pelen LLC to Mackay Precious Metals Inc. for $2.75 million, with part of the payment made in cash and the rest in cash or stock. The deal, which includes a 1.5% royalty on net smelter returns, enables Comstock to focus on advancing other projects and expanding its gold and silver potential in the southern part of its district, aligning with its strategic growth in the gold and silver cycle.
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.