Richmont Mines Inc. (RIC) Rating Reiterated by Scotiabank
Richmont Mines Inc. (TSE:RIC)‘s stock had its “sector perform” rating reiterated by analysts at Scotiabank in a report issued on Friday. They currently have a C$15.00 target price on the stock. Scotiabank’s price objective would suggest a potential upside of 30.89% from the company’s current price.
A number of other equities analysts have also weighed in on RIC. BMO Capital Markets restated an “underperform” rating on shares of Richmont Mines in a research report on Thursday, September 29th. National Bank Financial boosted their price target on shares of Richmont Mines from C$11.70 to C$12.50 in a research report on Wednesday, July 13th. Canaccord Genuity boosted their price target on shares of Richmont Mines from C$15.50 to C$17.00 and gave the stock a “buy” rating in a research report on Monday, August 8th. CIBC boosted their price target on shares of Richmont Mines from C$13.00 to C$14.50 and gave the stock a “sector perform” rating in a research report on Tuesday, August 9th. Finally, TD Securities boosted their price target on shares of Richmont Mines from C$15.00 to C$16.50 and gave the stock a “buy” rating in a research report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of C$12.10.
Richmont Mines (TSE:RIC) opened at 11.46 on Friday. Richmont Mines has a 52 week low of $3.73 and a 52 week high of $15.01. The company has a market capitalization of $718.42 million and a P/E ratio of 65.49. The firm has a 50-day moving average of $12.61 and a 200-day moving average of $11.50.
About Richmont Mines
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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