Comstock FY2024 EPS Forecast Decreased by Noble Financial

Comstock Inc. (NYSE:LODE) – Investment analysts at Noble Financial reduced their FY2024 EPS estimates for shares of Comstock in a research report issued to clients and investors on Wednesday, October 23rd. Noble Financial analyst M. Reichman now anticipates that the company will post earnings of ($0.22) per share for the year, down from their prior 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.

Separately, StockNews.com assumed coverage on shares of Comstock in a report on Saturday, September 21st. They issued a “sell” rating on the stock.

Comstock Stock Performance

Shares of Comstock stock opened at $0.42 on Friday. The firm has a market capitalization of $58.06 million, a P/E ratio of 5.25 and a beta of 1.95. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average price of $0.37 and a 200 day moving average price of $0.27. Comstock has a 52 week low of $0.13 and a 52 week high of $0.72.

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

Institutional Investors Weigh In On Comstock

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

Insider Buying and Selling

In other news, Director Leo M. Drozdoff acquired 200,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average price of $0.15 per share, with a total value of $30,000.00. Following the purchase, the director now directly owns 600,000 shares of the company’s stock, valued at $90,000. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 8.50% of the stock is owned by corporate 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.