Comstock (LODE)


Market Price (8/29/2026): $3.4 | Market Cap: $257.8 MilSector: Materials | Industry: Precious Metals & Minerals

Comstock (LODE)


Market Price (8/29/2026): $3.4
Market Cap: $257.8 Mil
Sector: Materials
Industry: Precious Metals & Minerals

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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Megatrend and thematic drivers
Megatrends include Energy Transition & Decarbonization, Sustainable Resource Management, and Electrification of Everything. Themes include Renewable Fuel Production, Show more.

Weak multi-year price returns
3Y Excs Rtn is -103%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -45 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -4424%

Expensive valuation multiples
P/SPrice/Sales ratio is 254x

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -69%, Rev Chg QQuarterly Revenue Change % is -20%

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 64%

Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -3009%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -4674%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -28%

Key risks
LODE key risks include [1] a reliance on unproven and unprofitable clean energy business models, Show more.

0 Megatrend and thematic drivers
Megatrends include Energy Transition & Decarbonization, Sustainable Resource Management, and Electrification of Everything. Themes include Renewable Fuel Production, Show more.
1 Weak multi-year price returns
3Y Excs Rtn is -103%
2 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -45 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -4424%
3 Expensive valuation multiples
P/SPrice/Sales ratio is 254x
4 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -69%, Rev Chg QQuarterly Revenue Change % is -20%
5 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 64%
6 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -3009%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -4674%
7 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -28%
8 Key risks
LODE key risks include [1] a reliance on unproven and unprofitable clean energy business models, Show more.

LODE in ETFs

Weight = LODE's share of each fund

VTI0.00%
IWM0.01%
IWN0.01%
VTWO0.01%
DFAS0.01%
DFAC0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 8/21/2026

Comstock (LODE) stock has gained about 5% since 4/30/2026 because of the following key factors:

1. Positive Fiscal Q1 2026 Earnings Surprise.

Comstock reported a net loss per share of -$0.163 for fiscal Q1 2026, which was better than the analyst estimate of -$0.204, representing a positive surprise of 20.1%. This narrower-than-expected loss, announced around May 7, 2026, contributed to an immediate stock price rise of 1.06% following the release.

2. Commercialization of Solar Recycling Operations.

The company demonstrated significant progress in its strategic shift towards industrial metals recycling. By August 11, 2026, Comstock's first industry-scale solar panel recycling system in Silver Springs, Nevada, was fully integrated, tested, and operational. Continuous operations at 25% of rated capacity are targeted for September 2026, with management projecting approximately $5 million in revenues from this facility during the second half of fiscal year 2026.

Show more
Updated on 8/21/2026

Comstock (LODE) stock has gained about 5% since 4/30/2026 because of the following key factors:

1. Positive Fiscal Q1 2026 Earnings Surprise.

Comstock reported a net loss per share of -$0.163 for fiscal Q1 2026, which was better than the analyst estimate of -$0.204, representing a positive surprise of 20.1%. This narrower-than-expected loss, announced around May 7, 2026, contributed to an immediate stock price rise of 1.06% following the release.

2. Commercialization of Solar Recycling Operations.

The company demonstrated significant progress in its strategic shift towards industrial metals recycling. By August 11, 2026, Comstock's first industry-scale solar panel recycling system in Silver Springs, Nevada, was fully integrated, tested, and operational. Continuous operations at 25% of rated capacity are targeted for September 2026, with management projecting approximately $5 million in revenues from this facility during the second half of fiscal year 2026.

3. Substantial Monetization of Legacy Mining Assets.

Comstock entered into a definitive agreement to sell 100% of its legacy mining and related real estate entities to Mackay Precious Metals for total consideration exceeding $45 million. This deal includes more than $30 million in cash and stock, with the closing anticipated in August 2026, significantly bolstering the company's liquidity and reducing liabilities.

4. Strengthened Financial Position and Liquidity.

The company ended fiscal Q2 2026 with $31.4 million in cash, zero debt, and $39.9 million in working capital. The anticipated $20 million cash inflow from the Mackay Precious Metals asset sale in August 2026 further enhances its financial stability, with the Chief Financial Officer indicating no additional equity raise is needed for operations.

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Stock Movement Drivers

Fundamental Drivers

The 3.7% change in LODE stock from 4/30/2026 to 8/28/2026 was primarily driven by a 133.7% change in the company's P/S Multiple.
(LTM values as of)43020268282026Change
Stock Price ($)3.283.403.7%
Change Contribution By: 
Total Revenues ($ Mil)21-34.7%
P/S Multiple108.7254.0133.7%
Shares Outstanding (Mil)5176-32.1%
Cumulative Contribution3.7%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 8/28/2026
ReturnCorrelation
LODE3.7% 
Market (SPY)7.1%21.5%
Sector (XLB)3.3%2.9%

Fundamental Drivers

The 15.3% change in LODE stock from 1/31/2026 to 8/28/2026 was primarily driven by a 474.3% change in the company's P/S Multiple.
(LTM values as of)13120268282026Change
Stock Price ($)2.953.4015.3%
Change Contribution By: 
Total Revenues ($ Mil)31-63.5%
P/S Multiple44.2254.0474.3%
Shares Outstanding (Mil)4276-45.0%
Cumulative Contribution15.3%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 8/28/2026
ReturnCorrelation
LODE15.3% 
Market (SPY)11.5%33.5%
Sector (XLB)8.4%17.8%

Fundamental Drivers

The 3.7% change in LODE stock from 7/31/2025 to 8/28/2026 was primarily driven by a 977.5% change in the company's P/S Multiple.
(LTM values as of)73120258282026Change
Stock Price ($)3.283.403.7%
Change Contribution By: 
Total Revenues ($ Mil)31-69.9%
P/S Multiple23.6254.0977.5%
Shares Outstanding (Mil)2476-68.0%
Cumulative Contribution3.7%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 8/28/2026
ReturnCorrelation
LODE3.7% 
Market (SPY)22.7%31.5%
Sector (XLB)23.0%17.8%

Fundamental Drivers

The -41.6% change in LODE stock from 7/31/2023 to 8/28/2026 was primarily driven by a -87.5% change in the company's Shares Outstanding (Mil).
(LTM values as of)73120238282026Change
Stock Price ($)5.833.40-41.6%
Change Contribution By: 
Total Revenues ($ Mil)01557.7%
P/S Multiple357.7254.0-29.0%
Shares Outstanding (Mil)976-87.5%
Cumulative Contribution-41.6%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2023 to 8/28/2026
ReturnCorrelation
LODE-41.6% 
Market (SPY)74.0%1.4%
Sector (XLB)31.0%4.6%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
LODE Return24%-79%99%46%-53%-5%-66%
Peers Return96%-30%-18%-30%-29%-1%-44%
S&P 500 Return27%-19%24%23%16%13%106%

Monthly Win Rates [3]
LODE Win Rate17%25%75%25%50%62% 
Peers Win Rate52%43%43%33%40%42% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
LODE Max Drawdown-80%-87%-59%-76%-96%-48% 
Peers Max Drawdown-63%-59%-52%-64%-71%-48% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: GEVO, CLNE, AQMS, AMTX, GPRE.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/28/2026 (YTD)

How Low Can It Go

EventLODES&P 500
2024 Yen Carry Trade Unwind
  % Loss-15.6%-7.8%
  % Gain to Breakeven18.5%8.5%
  Time to Breakeven3 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-37.6%-9.5%
  % Gain to Breakeven60.4%10.5%
  Time to Breakeven359 days24 days
2023 SVB Regional Banking Crisis
  % Loss-25.0%-6.7%
  % Gain to Breakeven33.3%7.1%
  Time to Breakeven46 days31 days
2020 COVID-19 Crash
  % Loss-38.4%-33.7%
  % Gain to Breakeven62.4%50.9%
  Time to Breakeven61 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-41.2%-19.2%
  % Gain to Breakeven70.1%23.8%
  Time to Breakeven103 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-38.8%-12.2%
  % Gain to Breakeven63.4%13.9%
  Time to Breakeven57 days62 days

Compare to GEVO, CLNE, AQMS, AMTX, GPRE

In The Past

Comstock's stock fell -5.0% during the 2025 US Tariff Shock. Such a loss loss requires a 5.2% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventLODES&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-37.6%-9.5%
  % Gain to Breakeven60.4%10.5%
  Time to Breakeven359 days24 days
2023 SVB Regional Banking Crisis
  % Loss-25.0%-6.7%
  % Gain to Breakeven33.3%7.1%
  Time to Breakeven46 days31 days
2020 COVID-19 Crash
  % Loss-38.4%-33.7%
  % Gain to Breakeven62.4%50.9%
  Time to Breakeven61 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-41.2%-19.2%
  % Gain to Breakeven70.1%23.8%
  Time to Breakeven103 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-38.8%-12.2%
  % Gain to Breakeven63.4%13.9%
  Time to Breakeven57 days62 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-41.5%-17.9%
  % Gain to Breakeven71.1%21.8%
  Time to Breakeven357 days123 days
2008-2009 Global Financial Crisis
  % Loss-35.1%-53.4%
  % Gain to Breakeven54.1%114.4%
  Time to Breakeven573 days1085 days

Compare to GEVO, CLNE, AQMS, AMTX, GPRE

In The Past

Comstock's stock fell -5.0% during the 2025 US Tariff Shock. Such a loss loss requires a 5.2% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Comstock (LODE)

Comstock Mining Inc. (LODE) is a Nevada-based company primarily focused on the exploration and development of mineral properties across the Comstock and Silver City districts. The company targets a diverse range of valuable minerals, including gold, silver, lithium, nickel, cobalt, and mercury ores. It holds extensive mining claims and patented parcels in key resource areas like Lucerne, Dayton, Occidental, and Gold Hill, with the strategic goal of advancing these properties towards potential mineral production.

In addition to its core mining activities, Comstock operates a Real Estate segment, which includes land and real estate rental properties, along with the historic Gold Hill Hotel and Daney Ranch. The company has also expanded into environmental technology through collaboration agreements, manufacturing and deploying advanced mercury remediation systems. These proprietary systems utilize mechanical, hydro, electro-chemical, and oxidation processes to effectively reclaim and remediate mercury from contaminated soils, waste, and tailings, offering a solution for environmental clean-up.

AI Analysis | Feedback

Comstock (LODE) can be described with the following analogies:

  • Like a junior Rio Tinto that's focused on finding both precious metals (gold, silver) and critical battery minerals (lithium, nickel) in Nevada's historic mining regions.
  • Imagine a smaller Barrick Gold that also develops specialized technology to clean up mercury pollution from historical mining sites.

AI Analysis | Feedback

  • Minerals: Exploration, development, and production of precious and base metals including gold, silver, lithium, nickel, cobalt, and mercury.
  • Real Estate Rental: Rental of land and various real estate properties.
  • Hospitality Services: Operation of the Gold Hill Hotel.
  • Mercury Remediation Systems and Services: Manufacture and deployment of proprietary systems to reclaim and remediate mercury from soils, waste, and tailings.

AI Analysis | Feedback

Comstock (LODE) operates in two distinct segments, Mining and Real Estate, serving different categories of customers. Based on the company's name and the primary description of its activities, it is inferred that its mining segment's sales to other companies constitute its primary customer base, although specific names are not provided.

For its **Mining segment**, Comstock Mining Inc. engages in the exploration, development, and production of various mineral properties, including gold, silver, lithium, nickel, cobalt, and mercury ores. The output of these operations is typically sold as raw materials to other companies for further processing, refining, or industrial use. These customers would primarily be:

  • Mineral refiners and smelters.
  • Manufacturers requiring specific metals or minerals.
  • Commodity trading firms.

The provided company description does not list the specific names of these customer companies.

For its **Real Estate segment**, the company operates land and real estate rental properties, as well as the Gold Hill Hotel and Daney Ranch properties. The customers for this segment are primarily individuals and businesses, categorized as:

  1. Hotel guests (e.g., tourists and travelers staying at the Gold Hill Hotel).
  2. Property renters (e.g., individuals or businesses leasing land or real estate properties).

AI Analysis | Feedback

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AI Analysis | Feedback

Here is the management team for Comstock Mining Inc. (LODE):

Corrado De Gasperis, Executive Chairman and Chief Executive Officer

Mr. De Gasperis has over 35 years of industrial manufacturing, financial, governance, operational, and project management experience in the metals, mining, and recycling industries. He has served as Comstock's Chief Executive Officer since 2010 and Executive Chairman since 2015. Previously, he was the Chief Executive Officer of Barzel Industries Inc. from 2006 to 2009. Before that, he served as the Chief Financial Officer of GrafTech International Ltd., a global manufacturer of industrial graphite and carbon-based materials, from 1998 to 2006. Mr. De Gasperis was also a Certified Public Accountant with KPMG LLP, where he was admitted as a Partner in 1998. He is also a co-founder, CEO, and director of Sierra Springs Opportunity Fund Inc., a strategic investee of Comstock, since 2019.

Judd B. Merrill, Chief Financial Officer and President of Comstock Mining

Mr. Merrill serves as the Chief Financial Officer and President of Comstock Mining. He brings an extensive background in mining to his role, leading the company's mining portfolio.

William J. McCarthy, Chief Operating Officer

Mr. McCarthy holds the position of Chief Operating Officer at Comstock Inc.

David J. Winsness, President, Comstock Fuels Corporation and Chief Technology Officer, Bioleum

Mr. Winsness is the President of Comstock Fuels Corporation and also serves as the Chief Technology Officer for Bioleum.

Matthew J. Bieberly, Chief Accounting Officer

Mr. Bieberly is the Chief Accounting Officer for Comstock Inc.

AI Analysis | Feedback

  1. Commodity Price Volatility: Comstock Mining Inc. is engaged in the exploration, development, and production of various minerals, including gold, silver, lithium, nickel, cobalt, and mercury. The revenue and profitability of the company are highly dependent on the market prices of these commodities, which are subject to significant fluctuations due to global supply and demand, economic conditions, and geopolitical factors.
  2. Exploration, Development, and Production Risks: The success of Comstock's mining segment relies on its ability to successfully explore for, develop, and produce mineral properties. There is inherent uncertainty in exploration, and there is no guarantee that discovered deposits will be economically viable or that development efforts will lead to profitable production. Mining operations also face technical challenges, operational disruptions, and geological risks that can impact production levels and costs.
  3. Environmental and Regulatory Compliance: Comstock's mining and remediation activities are subject to extensive and evolving environmental laws, regulations, and permitting requirements in Nevada. Compliance with these regulations, including those related to mercury remediation through its collaboration agreements, can be costly and time-consuming. Failure to comply could result in significant fines, penalties, operational shutdowns, or increased remediation expenses.

AI Analysis | Feedback

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AI Analysis | Feedback

Comstock Mining Inc. (LODE) participates in various markets through its mining operations and mercury remediation services. The addressable markets for its main products and services are global. * **Gold:** The global gold market was valued at approximately USD 291.68 billion in 2024 and is projected to reach USD 400 billion by the end of 2030. * **Silver:** The global silver market size was valued at USD 87.12 billion in 2024 and is projected to grow to USD 202.07 billion by 2033. * **Lithium:** The global lithium market size was estimated at USD 28.08 billion in 2024 and is projected to reach USD 74.81 billion by 2030. * **Nickel:** The global nickel market was valued at USD 45.38 billion in 2024 and is projected to grow to USD 86.35 billion by 2033. * **Cobalt:** The global cobalt market size was estimated at USD 16.96 billion in 2024 and is projected to reach USD 25.91 billion by 2030. * **Mercury Remediation Systems:** The global mercury removal market was valued at USD 1.785 billion in 2024 and is projected to reach USD 2.732 billion by 2035.

AI Analysis | Feedback

Comstock (LODE) is strategically repositioning itself, with several key initiatives expected to drive future revenue growth over the next 2-3 years, shifting focus beyond its historical mining operations to embrace emerging clean energy sectors.

  1. Expansion of Solar Panel Recycling (Comstock Metals): Comstock's primary revenue growth driver is the aggressive expansion of its solar panel recycling business, Comstock Metals. The company plans to commission its first large-scale recycling facility by Q1 2026, aiming for operational profitability by Q2 2026. This facility is projected to generate $55 million to $75 million in revenue per 100,000-ton capacity. Comstock intends to establish multiple facilities across the U.S., with plans for up to seven facilities, targeting a substantial market share in the rapidly expanding solar panel recycling market by 2028. In 2025, revenue billings for Comstock Metals surged by eight times compared to the previous year.
  2. Growth and Commercialization of Renewable Fuels (Bioleum Corporation): Comstock has spun off its renewable fuels business into Bioleum Corporation, retaining a significant stake. Bioleum is actively engaged in developing and producing sustainable aviation fuel, with a target of 8 million gallons, and plans for a public listing within the next 5-6 years. This segment is progressing with acquisitions to enhance its portfolio and is positioned for exponential revenue growth.
  3. Monetization and Strategic Development of Mining Assets: While the company has diversified, it continues to hold significant gold and silver mining assets in Nevada. The strategy for these assets includes commercializing agreements to either monetize them or enable resource expansion of central claims. Comstock is applying economic analysis to its existing gold and silver resources to advance towards preliminary economic feasibility for the southern part of its district. Higher gold and silver prices are expected to enhance the intrinsic value of these resources.

AI Analysis | Feedback

Share Issuance

  • In October 2025, Comstock completed an oversubscribed equity raise of $34.5 million in gross proceeds ($31.8 million net), which enabled the full funding and acceleration of its solar panel recycling business and eliminated debt.
  • In August 2025, the company priced an underwritten public offering of 13,333,334 shares at $2.25 per share, generating approximately $30 million in gross proceeds. This offering increased the number of outstanding shares from just over 35.5 million to 49.2 million.
  • In January 2026, Comstock announced a proposed underwritten public offering of 18,181,819 shares, expecting to raise approximately $50 million in gross proceeds, with an option for the underwriter to purchase up to an additional 2,727,272 shares.

Inbound Investments

  • In May 2025, Bioleum Corporation, Comstock's fuels division, secured a $13 million strategic pre-Series A investment from subsidiaries of Marathon Petroleum Corp.
  • Bioleum Corporation subsequently closed on an initial $20 million Series A investment in August 2025, followed by another $20 million Series A preferred equity financing in October 2025.
  • In July 2024, Comstock received a $2.5 million investment through an 8.0% Convertible Promissory Note, with a portion of the proceeds used to redeem $500,000 of existing convertible debt.

Outbound Investments

  • Comstock's Strategic Investments Segment includes minority equity investments in Quantum Generative Materials LLC (physics-based artificial intelligence), Green Li-ion Pte Limited (lithium-ion battery recycling and cathode production), and Sierra Springs Opportunity Fund (strategic direct investment in northern Nevada real estate).
  • In October 2025, Comstock restructured its five-year, $65 million investment in Bioleum Corporation into a Series 1 Convertible Preferred Stock, convertible into 32.5 million common shares of Bioleum.
  • In the first quarter of 2025, Comstock made strategic investments in early-stage technologies through companies such as Hexas and RenFuel.

Capital Expenditures

  • In August 2025, capital expenditures for the first industry-scale solar panel recycling facility, designed for 100,000 tons of annual capacity, were estimated at approximately $12 million. Approximately $10 million was planned for 2025, with an additional $2 million expected in early 2026.
  • As of September 30, 2025, Comstock had paid $5.1 million in deposits for property, plant, and equipment for its first industry-scale solar recycling facility in Silver Springs, Nevada.
  • The net proceeds from the proposed $50 million public offering in January 2026 are intended to fund capital expenditure requirements for Comstock Metals LLC's second industry-scale facility, the development of a refining process, accelerated site selections, and Metals market growth.

Better Bets vs. Comstock (LODE)

Peer Outperformance in Precious Metals & Minerals

LODE has trailed 100% of its 8 Precious Metals & Minerals peers over 5Y. Precious Metals & Minerals ranks 9th of 15 industries in Materials by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Precious Metals & Minerals constituents that LODE has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
40%
of 10 industry peers · 44.1% return
3Y
0%
of 10 industry peers · -24.1% return
5Y
0%
of 8 industry peers · -88.9% return
No Precious Metals & Minerals peer with a comparable growth profile has beaten LODE by more than 20pp over 5Y.
Median price return by industry across the Materials sector, ranked by 5Y. Precious Metals & Minerals is LODE's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Copper 7 114.3%88.9%310.6% COPR 1027% · TGB 422% · HBM 378%
Silver 6 164.4%304.6%167.4% AYA 254% · HL 243% · SVM 201%
Gold 32 50.6%194.2%155.5% IAG 758% · CNL 533% · KGC 464%
Steel 13 25.9%47.1%125.1% AMR 511% · HCC 431% · NWPX 337%
Aluminum 3 103.9%132.2%49.5% CENX 276% · KALU 49% · AA 20%
Diversified Metals & Mining 24 4.7%-1.8%48.9% ATLX 224900% · USAR 60269% · FMST 939%
Construction Materials 7 -14.0%27.8%42.5% USLM 308% · CRH 91% · VMC 52%
Metal, Glass & Plastic Containers 11 -2.8%4.9%5.6% KRT 173% · MYE 67% · GEF 58%
Precious Metals & Minerals ← 9 46.3%151.7%-6.4% ASM 625% · PPTA 383% · ELE 114%
Paper & Plastic Packaging Products & Materials 7 11.1%13.1%-6.7% PKG 84% · CCK 14% · SON 5%
Specialty Chemicals 40 11.2%-0.8%-14.1% LWLG 758% · ODC 482% · NEU 194%
Commodity Chemicals 13 26.3%13.9%-15.2% HWKN 226% · MEOH 75% · LXU 63%
Diversified Chemicals 4 5.6%-28.3%-26.4% CBT 69% · ASH -6% · CC -47%
Fertilizers & Agricultural Chemicals 10 -6.1%-2.3%-36.4% CF 209% · CTVA 100% · NTR 43%
Paper Products 3 -14.1%-50.9%-95.4% CLW -36% · ITP -95% · MERC -96%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

LODEGEVOCLNEAQMSAMTXGPREMedian
NameComstock Gevo Clean En.Aqua Met.Aemetis Green Pl. 
Mkt Price3.401.671.632.731.8614.662.29
Mkt Cap0.30.40.40.00.11.00.3
Rev LTM117844202301,829204
Op Inc LTM-45-10-32-16-12104-14
FCF LTM-47-578-11-39127-25
FCF 3Y Avg-31-862-19-3348-25
CFO LTM-31-1647-11-4154-8
CFO 3Y Avg-20-4574-13-5117-9

Growth & Margins

LODEGEVOCLNEAQMSAMTXGPREMedian
NameComstock Gevo Clean En.Aqua Met.Aemetis Green Pl. 
Rev Chg LTM-69.1%121.4%5.2%-3.0%-23.7%3.0%
Rev Chg 3Y Avg467.8%187.2%-1.1%-11.0%-19.8%11.0%
Rev Chg Q-19.7%7.1%3.7%-20.0%-19.3%3.7%
QoQ Delta Rev Chg LTM-6.2%1.8%0.9%-4.8%-5.5%0.9%
Op Inc Chg LTM-24.1%79.9%61.7%-4.7%73.5%214.0%67.6%
Op Inc Chg 3Y Avg-34.6%40.2%0.5%-2.6%18.0%32.3%9.3%
Op Mgn LTM-4,424.3%-5.5%-7.3%--5.0%5.7%-5.5%
Op Mgn 3Y Avg-2,147.3%-185.9%-12.7%--13.0%0.3%-13.0%
QoQ Delta Op Mgn LTM-613.6%-0.9%1.0%-7.7%4.5%1.0%
CFO/Rev LTM-3,008.9%-9.2%10.5%--1.6%8.4%-1.6%
CFO/Rev 3Y Avg-1,390.6%-142.7%17.6%--2.5%5.2%-2.5%
FCF/Rev LTM-4,674.5%-31.9%1.9%--17.1%7.0%-17.1%
FCF/Rev 3Y Avg-2,175.8%-252.4%0.4%--14.0%2.4%-14.0%

Valuation

LODEGEVOCLNEAQMSAMTXGPREMedian
NameComstock Gevo Clean En.Aqua Met.Aemetis Green Pl. 
Mkt Cap0.30.40.40.00.11.00.3
P/S254.02.20.8-0.60.60.8
P/Op Inc-5.7-40.5-11.1-0.6-11.49.7-8.4
P/EBIT-4.3-2.1-7.8-0.6-8.87.2-3.2
P/E-4.2-1.9-3.8-0.6-2.28.2-2.0
P/CFO-8.4-24.47.7-0.8-36.66.6-4.6
Total Yield-23.7%-53.8%-26.2%-171.9%-45.6%12.2%-35.9%
Dividend Yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg-379.1%-43.0%1.1%-1,339.4%-25.5%2.3%-34.3%
D/E0.10.40.90.03.20.50.5
Net D/E-0.00.30.5-0.53.10.30.3

Returns

LODEGEVOCLNEAQMSAMTXGPREMedian
NameComstock Gevo Clean En.Aqua Met.Aemetis Green Pl. 
1M Rtn25.0%15.2%-13.8%-0.7%31.9%-10.4%7.2%
3M Rtn-18.1%-10.2%-20.1%-35.3%-27.1%-6.4%-19.1%
6M Rtn9.7%-8.2%-27.9%-44.3%31.0%6.8%-0.7%
12M Rtn44.1%-3.5%-38.3%-24.4%-31.4%32.1%-13.9%
3Y Rtn-24.1%21.9%-61.6%-98.7%-64.9%-54.2%-57.9%
1M Excs Rtn18.2%5.5%-19.2%-8.2%15.5%-18.8%-1.4%
3M Excs Rtn-19.8%-12.0%-21.8%-37.0%-28.8%-8.2%-20.8%
6M Excs Rtn-2.4%-20.3%-40.0%-56.4%18.9%-5.3%-12.8%
12M Excs Rtn20.4%-25.2%-57.2%-47.0%-46.9%28.4%-36.0%
3Y Excs Rtn-102.7%-51.9%-136.0%-172.6%-138.0%-127.4%-131.7%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Metals1000 
Mining03100
Corporate / Other0000 
Bioleum00   
Strategic Investments00000
Fuels  00 
Renewable Energy Products    1
Total23101


Operating Income by Segment
$ Mil20252024202320222021
Strategic Investments-0-1-3-2-5
Mining-21-1-0-0
Metals-5-12-2-1 
Corporate / Other-10-241-8 
Bioleum-22-5   
Fuels  -7-8 
Renewable Energy Products    -2
Total-38-40-13-19-6


Net Income by Segment
$ Mil20252024202320222021
Strategic Investments0-322-10-12
Mining-42-1-50
Metals-5-12-2-1 
Corporate / Other-14-36-2-21 
Bioleum-21-5   
Fuels  -7-10 
Renewable Energy Products    -13
Total-43-5311-47-25


Assets by Segment
$ Mil20252024202320222021
Bioleum6310   
Strategic Investments4545566173
Mining2325272611
Corporate / Other2144-5 
Metals1771211 
Fuels  78 
Renewable Energy Products    43
Total17091106100127


Price Behavior

Price Behavior
Market Price$3.40 
Market Cap ($ Bil)0.3 
First Trading Date02/23/2007 
Distance from 52W High-28.7% 
   50 Days200 Days
DMA Price$3.68$3.48
DMA Trendindeterminatedown
Distance from DMA-7.6%-2.3%
 3M1YR
Volatility85.6%85.7%
Downside Capture162.95199.84
Upside Capture55.91201.89
Correlation (SPY)29.9%33.2%
LODE Betas & Captures as of 7/31/2026

 1M2M3M6M1Y3Y
Beta1.401.491.101.932.060.48
Up Beta6.763.201.891.582.400.78
Down Beta2.641.992.092.322.562.58
Up Capture-343%-60%-5%183%168%10%
Bmk +ve Days11223567138427
Stock +ve Days8173061123357
Down Capture234%182%89%178%151%91%
Bmk -ve Days11212859114326
Stock -ve Days14263365127387

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with LODE
LODE39.5%85.6%0.76-
Sector ETF (XLB)17.2%17.8%0.7419.9%
Equity (SPY)20.1%12.8%1.1633.2%
Gold (GLD)30.9%29.0%0.9223.7%
Commodities (DBC)39.9%20.3%1.54-1.6%
Real Estate (VNQ)9.9%13.7%0.441.9%
Bitcoin (BTCUSD)-27.5%43.6%-0.6127.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with LODE
LODE-34.1%440.3%0.40-
Sector ETF (XLB)6.9%19.1%0.255.5%
Equity (SPY)13.1%17.2%0.593.5%
Gold (GLD)19.7%18.7%0.850.4%
Commodities (DBC)11.5%19.6%0.46-0.9%
Real Estate (VNQ)2.0%18.9%0.005.3%
Bitcoin (BTCUSD)10.4%52.6%0.381.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with LODE
LODE-27.9%325.0%0.33-
Sector ETF (XLB)10.2%20.7%0.444.9%
Equity (SPY)15.2%17.9%0.723.6%
Gold (GLD)12.2%16.3%0.613.0%
Commodities (DBC)7.3%18.0%0.331.5%
Real Estate (VNQ)5.0%20.7%0.205.1%
Bitcoin (BTCUSD)64.0%66.1%1.041.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date8142026
Short Interest: Shares Quantity7.0 Mil
Short Interest: % Change Since 73120261.8%
Average Daily Volume1.0 Mil
Days-to-Cover Short Interest7.3 days
Basic Shares Quantity75.8 Mil
Short % of Basic Shares9.2%

Earnings Returns History

Updated 8/26/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/24/20263.7%-8.7%17.7%
5/8/2026-10.9%0.6%20.9%
10/30/2025-1.9%-14.2%8.5%
8/15/20251.3%7.0%24.8%
5/8/2025-3.5%-9.3%35.1%
3/6/2025-1.9%-8.3%-28.4%
10/22/2024-9.8%-10.9%-28.8%
8/8/2024-8.3%-9.7%71.6%
...
SUMMARY STATS   
# Positive448
# Negative10106
Median Positive2.5%3.8%22.8%
Median Negative-4.2%-9.6%-23.3%
Max Positive15.2%14.3%71.6%
Max Negative-10.9%-15.0%-28.8%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/24/20263.7%-8.7%17.7%
5/8/2026-10.9%0.6%20.9%
10/30/2025-1.9%-14.2%8.5%
8/15/20251.3%7.0%24.8%
5/8/2025-3.5%-9.3%35.1%
3/6/2025-1.9%-8.3%-28.4%
10/22/2024-9.8%-10.9%-28.8%
8/8/2024-8.3%-9.7%71.6%
4/30/2024-9.2%-9.5%-11.5%
2/28/2024-4.9%-15.0%-18.6%
11/10/2021-1.9%-2.4%-28.0%
8/10/2021-1.0%-10.5%6.2%
1/7/202115.2%14.3%66.7%
10/1/20200.0%0.0%-11.4%
SUMMARY STATS   
# Positive448
# Negative10106
Median Positive2.5%3.8%22.8%
Median Negative-4.2%-9.6%-23.3%
Max Positive15.2%14.3%71.6%
Max Negative-10.9%-15.0%-28.8%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202607/23/202610-Q
03/31/202605/07/202610-Q
12/31/202503/24/202610-K
09/30/202510/30/202510-Q
06/30/202508/14/202510-Q
03/31/202505/08/202510-Q
12/31/202403/06/202510-K
09/30/202410/22/202410-Q
06/30/202408/08/202410-Q
03/31/202404/29/202410-Q
12/31/202302/27/202410-K
09/30/202310/26/202310-Q
06/30/202308/10/202310-Q
03/31/202305/03/202310-Q
12/31/202203/16/202310-K
09/30/202211/01/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202607/23/202610-Q
03/31/202605/07/202610-Q
12/31/202503/24/202610-K
09/30/202510/30/202510-Q
06/30/202508/14/202510-Q
03/31/202505/08/202510-Q
12/31/202403/06/202510-K
09/30/202410/22/202410-Q
06/30/202408/08/202410-Q
03/31/202404/29/202410-Q
12/31/202302/27/202410-K
09/30/202310/26/202310-Q
06/30/202308/10/202310-Q
03/31/202305/03/202310-Q
12/31/202203/16/202310-K
09/30/202211/01/202210-Q
06/30/202208/09/202210-Q
03/31/202205/02/202210-Q
12/31/202103/28/202210-K
09/30/202111/09/202110-Q
06/30/202108/09/202110-Q
03/31/202105/11/202110-Q
12/31/202003/10/202110-K
09/30/202011/16/202010-Q
06/30/202008/14/202010-Q
03/31/202005/07/202010-Q
12/31/201903/30/202010-K
09/30/201911/04/201910-Q

Recent Forward Guidance

Updated 8/6/2026

Latest: Q2 2026 Earnings Reported 7/24/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Revenue 5.00 Mil    
2026 Capacity Utilization 0.25    

Prior: Q1 2026 Earnings Reported 5/8/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q3 2026 Mining Asset Sale      
Q2 2026 Facility Commissioning      

Q3 2025 Earnings Reported 10/30/2025

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q1 2026 Capital Expenditures2.00 Mil2.50 Mil3.00 Mil   
2025 Capital Expenditures 10.00 Mil 0 AffirmedGuidance: 10.00 Mil for 2025
2025 Revenue 3.50 Mil 0 AffirmedGuidance: 3.50 Mil for 2025

Insider Activity

Updated 8/6/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Degasperis, CorradoCEODirectBuy80620263.047,25022,052574,102Form
2Pei, Steven Yu-Tsung Gratia CapitalBuy61520264.10150,000615,7057,668,905Form
3Pei, Steven Yu-Tsung Gratia CapitalBuy61520264.09100,000408,5207,019,693Form
4Spence, Robert DirectBuy60320263.9724,41096,908128,640Form
5Pei, Steven Yu-Tsung Gratia CapitalBuy60320263.93180,000707,4007,431,551Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Degasperis, CorradoCEODirectBuy80620263.047,25022,052574,102Form
2Pei, Steven Yu-Tsung Gratia CapitalBuy61520264.10150,000615,7057,668,905Form
3Pei, Steven Yu-Tsung Gratia CapitalBuy61520264.09100,000408,5207,019,693Form
4Spence, Robert DirectBuy60320263.9724,41096,908128,640Form
5Pei, Steven Yu-Tsung Gratia CapitalBuy60320263.93180,000707,4007,431,551Form
6Degasperis, CorradoCEODirectBuy60320263.9810,68242,461721,462Form
7Drozdoff, Leo M DirectBuy60320264.117,00028,770795,178Form
8Pei, Steven Yu-Tsung Gratia CapitalBuy60320264.10153,823630,9207,017,756Form
9Pei, Steven Yu-Tsung Gratia CapitalBuy60320264.1426,177108,3576,445,696Form
10Pei, Steven Yu-Tsung Gratia CapitalBuy51420263.4279,559272,4905,243,606Form
11Pei, Steven Yu-Tsung Gratia CapitalBuy51420263.38345,0001,164,3754,898,546Form
12Degasperis, CorradoCEODirectBuy51220262.8935,000101,150493,664Form
13Merrill, JuddChief Financial OfficerDirectBuy40120263.083,70011,39612,967Form
14Drozdoff, Leo M DirectBuy40120263.0028,00084,000535,443Form

Investor Activity (13F)

Updated Aug 29, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Mak Capital One LLC$17.6 Mil2.9%21New13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Mak Capital One LLC$17.6 Mil2.9%21New13F
Active Manager
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Mak Capital One LLC$17.6 Mil2.9%21New13F
Core Cache Last Updated: 8/28/2026