FY2024 EPS Estimates for Comstock Decreased by Analyst

Comstock Inc. (NYSE:LODE) – Equities researchers at Noble Financial lowered their FY2024 earnings estimates for shares of Comstock in a report issued on Wednesday, October 23rd. Noble Financial analyst M. Reichman now forecasts that the company will earn ($0.22) per share for the year, down from their prior forecast of ($0.17). Noble Financial has a “Outperform” rating and a $2.60 price objective on the stock. The consensus estimate for Comstock’s current full-year earnings is ($0.17) per share. Noble Financial also issued estimates for Comstock’s Q4 2024 earnings at ($0.02) EPS, Q1 2025 earnings at ($0.02) EPS, Q2 2025 earnings at ($0.02) EPS, Q3 2025 earnings at ($0.02) EPS, Q4 2025 earnings at ($0.02) EPS and FY2025 earnings at ($0.09) EPS.

Comstock (NYSE:LODE) last released its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Comstock had a negative return on equity of 8.67% and a net margin of 230.15%. The firm had revenue of $0.43 million for the quarter, compared to analysts’ expectations of $0.57 million.

Separately, StockNews.com initiated coverage on shares of Comstock in a research note on Saturday, September 21st. They set a “sell” rating for the company.

Comstock Trading Up 2.0 %

Shares of NYSE:LODE opened at $0.45 on Friday. The company has a market cap of $62.03 million, a PE ratio of 5.61 and a beta of 1.95. The company’s 50 day moving average is $0.36 and its two-hundred day moving average is $0.27. Comstock has a 52 week low of $0.13 and a 52 week high of $0.72. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.11.

Hedge Funds Weigh In On Comstock

An institutional investor recently raised its position in Comstock stock. Renaissance Technologies LLC boosted its stake in shares of Comstock Inc. (NYSE:LODE) by 137.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,868,334 shares of the company’s stock after acquiring an additional 1,662,524 shares during the quarter. Renaissance Technologies LLC owned about 2.07% of Comstock worth $470,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 7.96% of the company’s stock.

Insider Buying and Selling

In related news, Director Leo M. Drozdoff bought 200,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was acquired at an average price of $0.15 per share, for a total transaction of $30,000.00. Following the acquisition, the director now owns 600,000 shares in the company, valued at approximately $90,000. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.50% of the stock is owned by company insiders.

About Comstock

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.