Comstock Inc.
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About the company
Comstock Inc. , a company established in 2008 and based in Virginia City, Nevada, specializes in the exploration, development, and extraction of mineral resources across the state. Its exploration efforts are focused on discovering a diverse range of valuable ores, including gold, silver, lithium, nickel, cobalt, and mercury.
- CEO
- Corrado F. De Gasperis
- IPO
- 2010
- Employees
- 45
- HQ
- Virginia City, NV, US
AI snapshot
Six angles, distilled from the data.
The stock is still in a recovery regime, trading just above its 200-day average after spending much of the year below the 52-week high. The 50-day average remains above the current price, so the intermediate trend is not fully repaired and the setup still needs follow-through.
Street sentiment is constructive but not emphatic: the consensus sits at Buy with a $6.75 target, well above the current share price. Recent changes have been mixed, with Noble Capital toggling between Outperform and Market Perform while UBS stayed at Reduce, which keeps conviction moderate.
Earnings remain choppy, with only 1 beat in the last 7 quarters and several sharp misses. Next-year EPS is still expected to improve to -0.37 from a TTM -1.03, so shareholders should watch whether margin discipline and revenue stabilization can narrow losses.
The pattern is net buying, led by a meaningful CEO open-market purchase and another director buy. Most of the larger June and July share grants are award-related and look routine, while the discretionary purchases suggest management is willing to add exposure at current levels.
Profitability is still weak, but the operating trend is improving from a low base. Gross margin is -165.6% and operating margin is -42.3%, while revenue growth remains negative at -19.6% year over year; the balance sheet shows $16.95 million in cash against $30.71 million of debt.
LODE sits in the gold/mining bucket, but its profile is more development-and-technology driven than a pure producer. The valuation is still demanding relative to the sector on a loss-making basis, so the market is paying for optionality rather than current earnings power.
Similar companies
Peers in the same neighborhood.
- Market Cap
- $123.93M
- P/E
- -3.19
- Fwd P/E
- 13.96
- PEG
- -0.03
- P/S
- 122.14
- P/B
- 1.85
- EV/EBITDA
- -3.07
- Div Yield
- 0.00%
- Gross Margin
- -594.20%
- Op Margin
- -5940.47%
- Net Margin
- -6012.27%
- ROE
- -46.95%
- ROIC
- -34.21%
Latest fiscal year · YoY change
- Revenue
- $1.55M-48.5%
- Gross Profit
- $-4,915,392-291.7%
- Op Income
- $-37,906,312
- Net Income
- $-43,076,443+19.2%
- EPS
- $-1.17+63.6%
- OCF Growth
- -74.9%
- FCF Growth
- -132.5%
- 52W High
- $4.98
- 52W Low
- $2.27
- 50D MA
- $3.77
- 200D MA
- $3.46
- Beta
- 1.44
- RSI (14)
- 46
- Avg Volume
- 1.52M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Comstock said Q1 was a transition quarter, with cash and asset monetization positioning the company to launch its first industry-scale metals facility and shift toward throughput-driven revenue in 2026.· May 7, 2026
- Cash was just over $53 million at quarter-end after an oversubscribed $57.5 million financing ($53 million net).
- Q1 net loss was about $9.4 million, with total operating expenses up roughly $1.7 million year over year from hiring, facility costs, and commercialization spend.
- Management said substantially all capex for the first metals plant is complete, with operations expected to start in June and continuous operation targeted for July.
- The company expects to sell its remaining mining assets, with a definitive agreement anticipated in the third quarter, which management said would simplify the business and reduce costs.
- Comstock is also investing in a second powered-land/Sierra Springs opportunity and expects Bioleum to fund itself externally rather than from Comstock going forward.
For Q1 2026, Comstock reported a net loss of approximately $9.4 million, described as largely in line with prior year levels. Total operating expenses increased approximately $1.7 million year over year, driven mainly by higher headcount, higher facility costs, and more professional/legal/commercialization spending. Interest expense declined significantly year over year as legacy debt was eliminated, interest income increased with the strong cash balance, and derivative-related impacts were less significant than last year. Cash at March 31, 2026 was just over $53 million, following an oversubscribed equity financing of $57.5 million gross and $53 million net. Guidance: management expects revenue to grow as the commercial metals plant comes online, shifting from project-based revenue to throughput-driven revenue in 2026; they did not provide specific revenue guidance, but said the facility should be profitable at 20% utilization and the corporation as a whole at 50% utilization. They also expect a definitive agreement to sell the remaining mining assets in the third quarter, with about $1.5 million of annual cash spending reduction from that sale.
Corrado De Gasperis framed the quarter as a major operational turning point, saying the company is moving from balance-sheet recapitalization into commercialization and monetization at scale. He emphasized that the metals facility is a showcase asset, that customer traction is building, and that the business is transitioning toward selling more of its own recovered materials rather than sending material to third parties. His tone was upbeat and assertive, especially around the value of powered land at Sierra Springs and the progress toward monetizing noncore assets.
Judd Merrill focused on the financial reset and liquidity strength. He highlighted the $57.5 million gross equity raise, $53 million net proceeds, and cash of just over $53 million at quarter-end, along with the completion of substantially all capex for the first plant. He also pointed to lower interest expense after extinguishing legacy debt, higher interest income from the cash balance, and a $1.4 million cash gain from selling royalty rights, while noting the company expects no interest expense going forward and lower cash spending if the mining asset sale closes.
Analysts asked how much solar panel feedstock is already secured, and management said that is still the least certain input, though it is signing master service agreements and already has 3 to 5 months of visibility. On silver recovery, Corrado said current panels are generally yielding about 16 to 18 grams per panel, but the company’s goal is to recover 90%+ of that metal once its own process is running. Questions on revenue guidance drew a non-specific response: management declined to give fiscal-year revenue guidance and said it wants a few months of operating history before updating expectations. They also said equipment risk exists, but they do not see fatal flaws and expect only normal startup hiccups.
The call showed tangible progress on the first metals plant, with substantially all of the capex done and management expecting June start-up and July continuous operations. Management also said it has strong cash, no legacy interest expense, improving customer interest, and multiple monetization paths for mining and powered-land assets. If execution holds, the company believes it can grow into a profitable industrial materials business with higher recoveries and better unit economics.
The biggest uncertainties are feedstock visibility, startup execution, and timing: management admitted solar panel supply is still the least certain variable, and the plant ramp may lag original hopes. Revenue guidance was not provided, suggesting the near-term top line is still too early to quantify. The company is also counting on a third-quarter mining asset sale and external funding for Bioleum, both of which still depend on closing deals and market conditions.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 97.5%
- Shares Outstanding
- 37.00M
- Float Shares
- 36.07M
of shares held by institutions
77 13F filers
Buy/sell ratio 0.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Vanguard Group Inc | 2.42M | ▲ 289.78K |
Held by 77 ETFs
Biggest fund positions in LODE by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Aug 6, 26 | DEGASPERIS CORRADO | buy | 7,250 |
| Jul 6, 26 | COLVIN DONALD A | other | 5,942 |
| Jul 6, 26 | Drozdoff Leo M | other | 5,942 |
| Jul 6, 26 | Marting Walter A. Jr | other | 5,942 |
| Jul 6, 26 | NANCE WILLIAM JOHN | other | 5,942 |
| Jul 6, 26 | Pei Steven Yu-Tsung | other | 5,942 |
| Jul 6, 26 | SPENCE ROBERT | other | 5,942 |
| Jul 6, 26 | Slanina Kristin | other | 5,942 |
| Jun 15, 26 | Merrill Judd | other | 304,449 |
| Jun 15, 26 | Merrill Judd | other | 121,597 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our LODE coverage
Recent articles, reports, and earnings notes.
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Comstock Stock Up 28% as Q2 Earnings Surge Year Over Year
zacks.com · Aug 20
Comstock Welcomes Venardos Circus Back to Loudoun Station
businesswire.com · Aug 14
Comstock Welcomes Bobby's Bagel Café to Loudoun Station
businesswire.com · Aug 6
Comstock and McWilliams|Ballard Announce New Virginia Condominium Sales Record at JW Marriott Residences Reston Station
businesswire.com · Aug 5
Comstock Signs QTS to Major Office Lease at Reston Station
businesswire.com · Aug 3
Comstock Resources Q2 Earnings Call Highlights
marketbeat.com · Jul 31
Comstock Inc. (LODE) Q2 2026 Earnings Call Transcript
seekingalpha.com · Jul 24
Comstock Q2 Earnings Call Highlights
marketbeat.com · Jul 23
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.
AI analysis · Last refreshed August 14, 2026 · Live quote · Not investment advice
