Richmont Mines Inc. (NYSE:RIC)‘s stock had its “sector perform” rating restated by Scotiabank in a report released on Saturday. They currently have a $15.00 price objective on the stock. Scotiabank’s target price suggests a potential upside of 70.65% from the stock’s current price.

RIC has been the subject of several other research reports. TheStreet lowered shares of Richmont Mines from a “buy” rating to a “hold” rating in a report on Friday, August 12th. BMO Capital Markets reissued an “underperform” rating and issued a $13.00 price target on shares of Richmont Mines in a report on Saturday. Zacks Investment Research raised shares of Richmont Mines from a “sell” rating to a “hold” rating in a report on Tuesday. National Bank Financial reissued a “sector perform” rating and issued a $13.50 price target (up previously from $12.50) on shares of Richmont Mines in a report on Thursday, August 11th. Finally, TD Securities reissued a “buy” rating and issued a $16.50 price target (up previously from $15.00) on shares of Richmont Mines in a report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. Richmont Mines has a consensus rating of “Hold” and an average price target of $14.06.

Analyst Recommendations for Richmont Mines (NYSE:RIC)

Richmont Mines (NYSE:RIC) traded up 0.34% during mid-day trading on Friday, reaching $8.79. The company had a trading volume of 363,200 shares. The stock has a 50 day moving average of $9.60 and a 200 day moving average of $8.81. The stock has a market capitalization of $551.04 million and a price-to-earnings ratio of 66.09. Richmont Mines has a 52 week low of $2.79 and a 52 week high of $11.66.

Richmont Mines (NYSE:RIC) last posted its earnings results on Monday, August 8th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.09. The firm had revenue of $40.62 million for the quarter, compared to analysts’ expectations of $40.55 million. Analysts anticipate that Richmont Mines will post $0.28 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in RIC. I.G. Investment Management LTD. raised its stake in Richmont Mines by 0.7% in the second quarter. I.G. Investment Management LTD. now owns 332,300 shares of the company’s stock worth $3,084,000 after buying an additional 2,300 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in shares of Richmont Mines during the second quarter valued at $102,000. Vanguard Group Inc. purchased a new position in shares of Richmont Mines during the second quarter valued at $102,000. Bank of Nova Scotia purchased a new position in shares of Richmont Mines during the second quarter valued at $143,000. Finally, Acadian Asset Management LLC boosted its position in shares of Richmont Mines by 2.0% in the second quarter. Acadian Asset Management LLC now owns 1,184,445 shares of the company’s stock valued at $10,908,000 after buying an additional 23,485 shares during the last quarter.

5 Day Chart for NYSE:RIC

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