Equities Analysts Offer Predictions for Richmont Mines Inc.’s Q3 2016 Earnings (RIC)
Richmont Mines Inc. (TSE:RIC) – National Bank Financial issued their Q3 2016 earnings per share (EPS) estimates for Richmont Mines in a note issued to investors on Wednesday. National Bank Financial analyst A. Melnyk forecasts that the firm will post earnings per share of $0.03 for the quarter. National Bank Financial has a “Sector Perform” rating and a $13.50 price objective on the stock. National Bank Financial also issued estimates for Richmont Mines’ FY2016 earnings at $0.28 EPS and FY2017 earnings at $0.67 EPS.
Several other brokerages have also issued reports on RIC. BMO Capital Markets reaffirmed an “underperform” rating on shares of Richmont Mines in a research note on Thursday, September 29th. Canaccord Genuity raised their target price on shares of Richmont Mines from C$15.50 to C$17.00 and gave the company a “buy” rating in a research note on Monday, August 8th. Scotiabank reaffirmed a “sector perform” rating and issued a C$14.75 target price on shares of Richmont Mines in a research note on Tuesday, August 9th. CIBC raised their target price on shares of Richmont Mines from C$13.00 to C$14.50 and gave the company a “sector perform” rating in a research note on Tuesday, August 9th. Finally, TD Securities raised their target price on shares of Richmont Mines from C$15.00 to C$16.50 and gave the company a “buy” rating in a research note on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of C$12.10.
Richmont Mines (TSE:RIC) opened at 11.53 on Friday. Richmont Mines has a 12 month low of $3.73 and a 12 month high of $15.01. The stock has a market capitalization of $722.80 million and a P/E ratio of 65.89. The company’s 50-day moving average is $12.61 and its 200-day moving average is $11.41.
Richmont Mines Company Profile
Richmont Mines Inc is a mining company. The Company is engaged in activities related to the acquisition, exploration, development and operation of mineral properties. Its segments include Quebec and Ontario. It has two divisions: Ontario Division and Quebec Division. Its Island Gold Mine is located approximately 80 kilometers northeast of Wawa, Ontario in the Sault Ste.
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