Comstock FY2024 EPS Forecast Decreased by Noble Financial

Comstock Inc. (NYSE:LODE - Free Report) - Research analysts at Noble Financial lowered their FY2024 earnings estimates for Comstock in a report released on Wednesday, October 23rd. Noble Financial analyst M. Reichman now forecasts that the company will post earnings per share of ($0.22) for the year, down from their previous estimate of ($0.17). Noble Financial currently has a "Outperform" rating and a $2.60 price target 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 - Get Free Report) last announced its quarterly 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). The company had revenue of $0.43 million during the quarter, compared to analyst estimates of $0.57 million. Comstock had a net margin of 230.15% and a negative return on equity of 8.67%.

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

Comstock Trading Down 6.4 %

Comstock stock traded down $0.03 during midday trading on Friday, reaching $0.42. The stock had a trading volume of 1,550,229 shares, compared to its average volume of 3,224,792. The stock's 50-day simple moving average is $0.37 and its 200 day simple moving average is $0.27. Comstock has a twelve month low of $0.13 and a twelve month high of $0.72. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.14 and a current ratio of 2.14. The stock has a market capitalization of $58.06 million, a PE ratio of 5.25 and a beta of 1.95.

Insider Buying and Selling at Comstock

In related news, Director Leo M. Drozdoff purchased 200,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average cost 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 trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Comstock

An institutional investor recently raised its position in Comstock stock. Farther Finance Advisors LLC raised its position in Comstock Inc. (NYSE:LODE - Free Report) by 19.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,356,958 shares of the company's stock after buying an additional 219,622 shares during the period. Farther Finance Advisors LLC owned approximately 0.98% of Comstock worth $223,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 7.96% of the company's stock.

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.