FY2024 EPS Estimates for Comstock Reduced by Noble Financial

Comstock Inc. (NYSE:LODE) – Research analysts at Noble Financial dropped their FY2024 earnings per share (EPS) estimates for Comstock in a research 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 previous forecast of ($0.17). Noble Financial currently has a “Outperform” rating and a $2.60 target price 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 posted 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 32.70% and a negative net margin of 1,210.13%. The firm had revenue of $0.43 million for the quarter, compared to the consensus estimate of $0.57 million.

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

Comstock Stock Down 6.4 %

LODE opened at $0.42 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.14 and a quick ratio of 2.14. Comstock has a one year low of $0.13 and a one year high of $0.72. The firm has a market capitalization of $73.62 million, a P/E ratio of -3.50 and a beta of 1.95. The company has a fifty day moving average price of $0.37 and a 200-day moving average price of $0.27.

Insider Buying and Selling

In related news, Director Leo M. Drozdoff bought 200,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was acquired at an average cost of $0.15 per share, for a total transaction of $30,000.00. Following the completion of the transaction, the director now directly owns 600,000 shares in the company, valued at $90,000. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 8.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Comstock stock. Farther Finance Advisors LLC grew its position in shares of Comstock Inc. (NYSE:LODE) by 19.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,356,958 shares of the company’s stock after purchasing an additional 219,622 shares during the quarter. Farther Finance Advisors LLC owned approximately 0.98% of Comstock worth $223,000 as of its most recent SEC filing. 7.96% of the stock is owned by institutional investors.

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.