Noble Financial Thinks Comstock Mining’s Stock is Going to Recover

Noble Financial analyst Mark Reichman maintained a Buy rating on Comstock Mining (LODEResearch Report) today and set a price target of $6.75. The company’s shares closed last Wednesday at $1.47, close to its 52-week low of $0.99.

According to TipRanks.com, Reichman is a 1-star analyst with an average return of 0.0% and a 34.5% success rate. Reichman covers the Basic Materials sector, focusing on stocks such as Great Bear Resources, Endeavour Silver, and Chakana Copper.

Currently, the analyst consensus on Comstock Mining is a Moderate Buy with an average price target of $6.75.

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Based on Comstock Mining’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $362.7K and GAAP net loss of $9.49 million. In comparison, last year the company earned revenue of $49.43K and had a net profit of $17.33 million.

Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LODE in relation to earlier this year.

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Comstock Mining, Inc. engages in the exploration and development of mineral properties. It operates through the following segments: Mining and Real Estate. The Mining segment consists of all activities and expenditures associated with mining, exploration and mine development. The Real Estate segment includes land, real estate, rental properties, and the Gold Hill Hotel. The company was founded in 1999 and is headquartered in Virginia City, NV.

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