Comstock (NYSE:LODE) Rating Increased to Outperform at Noble Financial

Noble Financial upgraded shares of Comstock (NYSE:LODE) from a market perform rating to an outperform rating in a research note published on Monday, MarketBeat Ratings reports. They currently have $2.60 target price on the stock. Noble Financial also issued estimates for Comstock’s FY2024 earnings at ($0.17) EPS, Q1 2025 earnings at ($0.03) EPS, Q2 2025 earnings at ($0.03) EPS, Q3 2025 earnings at ($0.03) EPS, Q4 2025 earnings at ($0.03) EPS and FY2025 earnings at ($0.11) EPS.

Separately, StockNews.com assumed coverage on Comstock in a research note on Monday. They set a sell rating for the company.

Comstock Stock Performance

Shares of LODE stock opened at $0.15 on Monday. Comstock has a 12-month low of $0.13 and a 12-month high of $0.63. The business’s fifty day simple moving average is $0.17 and its 200-day simple moving average is $0.29. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.11. The company has a market cap of $20.54 million, a PE ratio of 1.86 and a beta of 1.92.

Comstock (NYSE:LODE) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The business had revenue of $0.43 million during the quarter, compared to analysts’ expectations of $0.57 million. Comstock had a net margin of 474.79% and a negative return on equity of 5.56%. Analysts expect that Comstock will post -0.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Comstock

In other Comstock news, Director Leo M. Drozdoff bought 200,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were purchased at an average cost of $0.15 per share, for a total transaction of $30,000.00. Following the transaction, the director now directly owns 600,000 shares of the company’s stock, valued at $90,000. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders bought 250,000 shares of company stock valued at $43,500. Corporate insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LODE. Mission Wealth Management LP purchased a new position in Comstock during the fourth quarter valued at $47,000. Renaissance Technologies LLC raised its position in shares of Comstock by 137.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,868,334 shares of the company’s stock worth $470,000 after purchasing an additional 1,662,524 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Comstock by 19.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,356,958 shares of the company’s stock valued at $223,000 after buying an additional 219,622 shares in the last quarter. Hedge funds and other institutional investors own 7.96% of the company’s stock.

Comstock Company Profile

Comstock Inc engages in the systemic decarbonization business in Nevada and internationally. It operates through Renewable Energy, Mining, and Strategic and Other Investments segments. It will develop technology for the deploying of extraction and refining facilities that convert wasted and unused biomass and other natural resources; and a demonstration system to extract black mass containing lithium, graphite, nickel, cobalt, manganese, copper, aluminum, and other metals from up to lithium-ion batteries.