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Comstock Mining Inc (LODE) fair value: what the stock is really worth

As of Nov 11, 2026: fair value (intrinsic value) of Comstock Mining Inc stock $1.20, price $1.67, that is 28.1% below the price, quality 15 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Basic Materials US · ISIN US2057504092

CM Comstock Mining Inc logo Thin data Nov 10, 2026

Comstock Mining Inc

LODE · US
Expensive, weak quality

Our calculation puts a fair price 28% below what the stock costs today.

Low debt
Mixed Growth (revenue 5y +50.4 %/yr in USD)
Insiders bought $4.1M (6M)
Revenue last quarter 20% below a year ago.
Fair value $1.20 · Overvalued
Quality 15/100
Negative free cash flow
Trails peers (1/7)
Narrow moat 5/100
Thin data
⟳ CyclicalEstimate
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26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

$32.40 $1.35 Fair Value $1.20 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range $1.35 – $32.40 · fair‑value band $0.9000 – $1.51 · the $1.67 price screens above the $1.20 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

Comstock Inc. commercializes technologies, systems, and supply chains that extract, process, and convert under-utilized waste and natural resources into clean energy and clean energy supporting products in the United States.

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It operates through the Fuels, Metals, Mining, and Strategic Investments segments. The company develops and commercializes technology that extracts and converts wasted and unused lignocellulosic biomass into intermediates for refining into advanced renewable fuels.

It also owns 100% in the Lucerne Project located in the Storey County, Nevada; and the Spring Valley Project situated in the Lyon County, Nevada. In addition, the company offers engineering and construction services; and invests in non-mining real estate, water rights, and securities investments.

Comstock Inc. company was incorporated in 1999 and is based in Virginia City, Nevada.

Stock analysis

Comstock Mining Inc (LODE) currently trades at $1.67, while our estimate is $1.20, 28% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: $0.9000 (bear) to $1.51 (bull), the price of $1.67 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 15/100 (below-average quality), in the Basic Materials sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Comstock Mining Inc reported revenue of $1.6M in FY2025 versus $862K in FY2021, a compound +15.9%/yr. Reported net income was −$43.1M in FY2025.

Key figures

Market cap $127M Micro · EPS (TTM) $−1.03 · Return on equity −52.6% · Return on assets (EBIT) −20.1% (5-year average) · Operating margin −4,234% · Revenue (TTM) $1.0M · Revenue growth (YoY) −19.6% · EPS growth (YoY) +26.9%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 5 out of 100 (medium confidence).

What moves the price

The share trades about 65% below its 52-week high and 20% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −19% fair-value upside, at −28%, LODE screens richer than that median.

Fair Value

Bear $0.9000 Fair Value $1.20 Bull $1.51
Price $1.67 · Downside -28.1%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 15/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 28
Are margins and returns getting better?
Cashflow 2
Do the profits arrive as real cash?
Financial strength 54
Debt, balance sheet and risk of trouble
Investment 0
Does it invest with discipline instead of growing at any price?
Low Volatility 7
How calm the share price moves, does not count
Price momentum 3
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 4
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Insider trades

In the last 6 months, 4 officers or directors bought shares worth $4.1M, most recently on Aug 6, 2026. Buying cluster

  • BuyCorrado DegasperisCEO, Director3× since May 12, 2026: 52,932 shares, avg. $3.13$165,704Aug 6, 2026
  • BuySteven Yu-Tsung PeiDirector3× since May 13, 2026: 1,034,559 shares, avg. $3.78$3.9MJun 12, 2026
  • BuyLeo M DrozdoffDirector2× since Mar 30, 2026: 35,000 shares, avg. $3.22$112,770Jun 3, 2026
  • BuyRobert SpenceDirector24,410 shares at $3.97$96,908Jun 3, 2026
  • BuyJudd MerrillChief Financial Officer3,700 shares at $3.08$11,396Mar 30, 2026

Plus 14 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.

Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.

Source: SEC Form 4, as of Nov 10, 2026. All filings at the SEC ↗

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 24/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−48.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+50.4%
Start year 2020 (pandemic). Over 10 years: −21.9% a year
Revenue growth 24 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+29.0%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−2,714.1% (2020) → −2,439.6% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

LODE screens overvalued: fair value 28% below the price. Compare with PT Amman Mineral Internasional Tbk →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Other Precious Metals & Mining · 151 stocks

Beats the industry median on 1/6 measures
Overall it trails its industry peers.
Valuation
Quality Score 15 · Bottom 25%
Fair Value upside −28.1% · Below median
Profitability
Return on assets −23.6% · Below median
Growth and dividend
Revenue growth (quarter YoY) −19.6% · Bottom 25%
Balance sheet
Debt / equity 0.11× · Above median

Valuation Multiplesvs Other Precious Metals & Mining median · lower = cheaper

P/B 1.18× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 5
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)94 · sector 98
DIVIDEND (yield)0 · sector 57

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Other Precious Metals & Mining stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Sibanye Stillwater Limited SBSW $9.20 $12.51 +36% vs LODE
Hecla Mining Company HL $14.12 $15.53 +10% vs LODE
Triple Flag Precious Metals Corp TFPM $31.37 $32.54 +4% vs LODE
Compañía de Minas Buenaventura S.A. BVN $26.10 $26.98 +3% vs LODE
Perpetua Resources Corp PPTA $18.94 $15.34 −19% vs LODE
International Gemological Institute Limited IGIL ₹429.45 ₹338.90 −21% vs LODE
Sino-Platinum Metals Co 600459 ¥16.77 ¥13.23 −21% vs LODE
China Gold International Resources Corp CGG C$31.54 C$15.00 −52% vs LODE
Artemis Gold Inc ARTG C$39.73 C$15.63 −61% vs LODE
PT Amman Mineral Internasional Tbk AMMN 3,640 IDR 881.70 IDR −76% vs LODE

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Comstock Mining Inc: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Comstock Mining Inc Fair Value". https://www.fairvalue-calculator.com/stock/LODE

Frequently asked questions

Is Comstock Mining Inc (LODE) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is $1.20 versus a price of $1.67, about 28% lower (overvalued).
What is the fair value of LODE?
Our estimate for Comstock Mining Inc is $1.20 (as of Nov 10, 2026), built from audited fundamentals. The current price: $1.67.
What is the quality score of LODE?
Comstock Mining Inc has a Quality Score of 15/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Comstock Mining Inc (LODE)?
Our calculated price target is the estimate of $1.20 (as of Nov 10, 2026). Cautious scenario $0.9000, optimistic scenario $1.51. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Comstock Mining Inc stock forecast for 2026?
Our estimate puts fair value at $1.20, about 28% lower versus a price of $1.67 (overvalued). Cautious scenario $0.9000, optimistic scenario $1.51. The calculation is refreshed regularly with new filings.
What is the revenue of Comstock Mining Inc (LODE)?
Comstock Mining Inc reported trailing-twelve-month revenue of about $1.0M (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Comstock Mining Inc (LODE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Comstock Mining Inc it is $1.20 per share (as of Nov 10, 2026), against a price of $1.67.
Is Comstock Mining Inc stock overvalued or undervalued in 2026?
As of Nov 10, 2026, LODE trades above its calculated fair value: price $1.67, fair value $1.20, a gap of about −28% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of LODE?
No. The price is what the market pays today ($1.67); the fair value is what the company's own numbers justify ($1.20). For Comstock Mining Inc the two are $0.4700 per share apart. That gap is exactly why we show both numbers side by side.
How much is Comstock Mining Inc worth?
The market values Comstock Mining Inc at about $127M (market capitalisation, as of Nov 10, 2026). Per share that is $1.67; our models calculate a fair value of $1.20 per share.
What do the bullish and bearish scenarios say about LODE?
Our models span a range for Comstock Mining Inc: cautious scenario $0.9000, base $1.20, optimistic $1.51 per share (as of Nov 10, 2026, price $1.67). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Comstock Mining Inc (LODE)?
Balance-sheet figures for Comstock Mining Inc (as of Nov 10, 2026): return on equity −52.6%, debt of 0.11 per unit of equity. They feed the Quality Score of 15/100, which measures business quality independently of the share price.
How far is LODE from its 52-week high?
Comstock Mining Inc trades at $1.67, about 65% below its 52-week high of $4.77 and 20% above the low of $1.39 (as of Nov 11, 2026). Distance from the high says nothing about value: that is what the fair value of $1.20 is for.
Which stocks are comparable to Comstock Mining Inc?
From the same area (Basic Materials) we also value PT Amman Mineral Internasional Tbk, Hecla Mining Company, China Gold International Resources Corp, Compañía de Minas Buenaventura S.A., among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Comstock Mining Inc stock attractive at the current price?
The data as of Nov 10, 2026: price $1.67, calculated fair value $1.20 (−28%), Quality Score 15/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 14.0% above its aggregate fair value. Comstock Mining Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Comstock Mining Inc (LODE)?
The closing price on Nov 11, 2026 was $1.67. Our estimate is $1.20, about 28% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Comstock Mining Inc right now?
The price sits above even our optimistic bull case ($1.51). The favourable scenario is already priced in. Weak quality (15/100) and above fair value at the same time, the margin of safety is missing on both counts. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Comstock Mining Inc

How large is the market capitalisation of Comstock Mining Inc (LODE)?
The market capitalisation of Comstock Mining Inc is $127M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of Comstock Mining Inc (LODE)?
Earnings per share at Comstock Mining Inc are $−1.03. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Comstock Mining Inc (LODE)?
The return on equity (ROE) of Comstock Mining Inc is −52.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Comstock Mining Inc (LODE)?
On an EBIT basis the return on assets of Comstock Mining Inc is −20.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Comstock Mining Inc (LODE)?
The operating margin of Comstock Mining Inc is −4,234% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Comstock Mining Inc (LODE)?
Revenue at Comstock Mining Inc is growing −19.6% versus a year earlier (3y avg +106%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Comstock Mining Inc (LODE)?
Earnings per share at Comstock Mining Inc are growing +26.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Comstock Mining Inc (LODE) generate?
The free cash flow of Comstock Mining Inc is −$34.6M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Comstock Mining Inc (LODE) carry?
The net debt of Comstock Mining Inc is $13.8M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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