Movers and SHAKERS
Comstock Mining (LODE)
Sharpening its Focus to Enhance Shareholder Value
Comstock Mining Inc is a mining company with a focus on gold and silver deposits in the Comstock and Silver City mining districts in Nevada. Its operations are divided into two segments, namely mining and real estate. Its mining projects include The Lucerne Resource area, the Dayton Resource area, the Spring Valley exploration target, the Northern Extension, Northern Targets and Occidental areas. The Real Estate segment involves land, real estate rental properties and a hotel, restaurant & bar provided by the Gold Hill Hotel located in Gold Hill, Nevada just south of Virginia City and the Daney Ranch, located just south of Silver City. The majority revenues are generated from the real estate segment.
Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Initiating coverage with an Outperform rating. We are initiating coverage of Comstock Mining Inc. with an Outperform rating and a price target of $4.50 per share. In our view, Comstock Mining offers investors significant upside potential as the company executes on its plan to unlock the value of its assets through a recent corporate realignment to focus on mining related activities in the Nevada Comstock and Silver City mining districts. Additionally, the company owns an interest in a growing clean mining technology business with a focus on mercury remediation.
Realignment enhances corporate focus on core assets. We expect Comstock to complete the sale of non-core real estate assets to an opportunity zone fund during the third quarter which is expected to provide roughly $10.1 million in proceeds to extinguish debt and fund exploration of the company's Dayton mining properties and other growth initiatives. The company also expects to receive ~$400 thousand in October 2020 and ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.