Movers and SHAKERS
Comstock Mining (LODE)
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 of Natural Resources, Noble Capital Markets, Inc.
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Third quarter financial results. Comstock Mining generated third quarter net income of $17.3 million, or $0.54 per share, compared with net income of $386.9 thousand, or $0.02 per share during the prior year period and our estimate of $0.51. The increase relative to last year was largely attributed to transaction and investment gains. While revenue was in line with our estimate, gain on the sale of membership interests in Comstock Mining LLC was modestly higher and so was other income. While our 2021 estimate is unchanged, we updated our 2020 EPS estimates to $0.55 from $0.54.
Advancing Dayton and Spring Valley. Comstock recently received the results of an airborne geophysical survey of the Dayton resource area and Spring Valley exploration targets that commenced in September and was completed in October. Comstock will compile a structural interpretation of the Dayton resource area which will provide the framework for a new resource model and identify a list of drill ...
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.