Comstock Mining ( LODE Quick Quote LODE - Free Report) recently announced selected financial results for 2021. The company reported break-even earnings per share in fourth-quarter 2021, faring better than the Zacks Consensus Estimate of a loss of 3 cents per share. The company had reported a loss per share of 14 cents in the year-ago quarter. For 2021, the company reported a loss per share of 49 cents per share against earnings per share of 49 cents in 2020. Revenues were $0.4 million in the quarter under review, which beat the Zacks Consensus Estimate by a margin of 4.21%. The top-line figure came in higher than revenues of $0.06 million in the fourth quarter of 2020.
As of Dec 31, 2021, Comstock Mining had $5.9 million in cash and equivalents. As of 2021-end, total assets were $127 million compared with $43 million, as of Dec 31, 2020. Net equity nearly tripled to $93 million during 2021 from around $32 million as of Dec 31, 2020.
The company has been active on the buyout front in the past year. It has acquired Comstock Innovations (formerly Plain Sight Innovations). It adds a portfolio of intellectual property that contributes to global decarbonization by converting massive supplies of unused and under-utilized woody-biomass resources into cellulosic ethanol, renewable diesel, sustainable aviation fuel, and other drop-in fuels.
LODE acquired LINICO Corporation, which is an emerging leader in the production of electrification products, including lithium carbonate and graphite from recycled lithium-ion batteries, with its proprietary extraction technologies. The company also bought Comstock Engineering (formerly Renewable Process Solutions). Price Performance Image Source: Zacks Investment Research
Comstock Mining’s shares have fallen 65.9% in the past year against the
industry’s growth of 17%. Zacks Rank & Stocks to Consider
Comstock Mining currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space include The Mosaic Company ( MOS Quick Quote MOS - Free Report) , AdvanSix Inc. ( ASIX Quick Quote ASIX - Free Report) and Allegheny Technologies Incorporated ( ATI Quick Quote ATI - Free Report) . Mosaic has a projected earnings growth rate of 125% for the current year. The Zacks Consensus Estimate for MOS' current-year earnings has been revised upward by 33.3% in the past 60 days. Mosaic’s earnings beat the Zacks Consensus Estimate in three of the last four quarters and missed once, the average surprise being 3.7%. MOS has rallied around 104% in a year. It currently sports a Zacks Rank #1 (Strong Buy). You can see . the complete list of today’s Zacks #1 Rank stocks here AdvanSix has a projected earnings growth rate of 64.8% for the current year. The Zacks Consensus Estimate for ASIX’s current-year earnings has been revised upward by 58% in the past 60 days. AdvanSix’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, while missing in one, the average surprise being 23.6%. ASIX has soared 96% in a year. The company flaunts a Zacks Rank #1. Allegheny, currently carrying a Zacks Rank #2 (Buy), has an expected earnings growth rate of 661.5% for the current year. The Zacks Consensus Estimate for ATI's earnings for the current year has been revised 45.6% upward in the past 60 days. Allegheny’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 127.2%. ATI has rallied around 26% over a year.