Research Analysts Issue Forecasts for Richmont Mines Inc.’s FY2016 Earnings (RIC)
Richmont Mines Inc. (TSE:RIC) (NYSE:RIC) – Stock analysts at National Bank Financial decreased their FY2016 EPS estimates for Richmont Mines in a research report issued to clients and investors on Thursday. National Bank Financial analyst A. Melnyk now anticipates that the firm will earn $0.25 per share for the year, down from their previous forecast of $0.28. National Bank Financial has a “Sector Perform” rating and a $13.50 price target on the stock. National Bank Financial also issued estimates for Richmont Mines’ FY2017 earnings at $0.65 EPS and FY2019 earnings at $0.91 EPS.
A number of other equities research analysts have also recently weighed in on RIC. BMO Capital Markets reiterated an “underperform” rating on shares of Richmont Mines in a research note on Thursday, September 29th. TD Securities cut their price target on Richmont Mines from C$16.50 to C$15.00 and set a “buy” rating for the company in a research note on Friday, November 11th. Scotiabank restated a “sector perform” rating and set a C$15.00 price target on shares of Richmont Mines in a research note on Friday, November 11th. Canaccord Genuity upped their price target on Richmont Mines from C$15.50 to C$17.00 and gave the stock a “buy” rating in a research note on Monday, August 8th. Finally, CIBC upped their price target on Richmont Mines from C$13.00 to C$14.50 and gave the stock a “sector perform” rating in a research note on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of C$12.66.
Richmont Mines (TSE:RIC) opened at 9.08 on Monday. The firm has a 50-day moving average price of $11.83 and a 200-day moving average price of $11.96. The stock has a market cap of $569.22 million and a price-to-earnings ratio of 51.89. Richmont Mines has a one year low of $3.80 and a one year high of $15.01.
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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