Scotiabank Reaffirms Sector Perform Rating for Richmont Mines Inc. (RIC)
Scotiabank reissued their sector perform rating on shares of Richmont Mines Inc. (TSE:RIC) (NYSE:RIC) in a research note published on Friday, StockTargetPrices.com reports. They currently have a C$15.00 price objective on the stock.
RIC has been the topic of several other reports. TD Securities restated a buy rating and issued a C$16.50 price objective on shares of Richmont Mines in a report on Wednesday, September 21st. BMO Capital Markets reaffirmed an underperform rating on shares of Richmont Mines in a research note on Thursday, September 29th. Canaccord Genuity lowered their target price on shares of Richmont Mines from C$17.00 to C$15.00 in a research note on Monday, October 24th. Desjardins lowered their target price on shares of Richmont Mines from C$16.50 to C$15.00 in a research note on Thursday, October 20th. Finally, National Bank Financial upped their target price on shares of Richmont Mines from C$12.50 to C$13.50 and gave the company a sector perform rating in a research note on Tuesday, August 9th. One investment 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 stock currently has a consensus rating of Buy and an average target price of C$12.66.
Shares of Richmont Mines (TSE:RIC) opened at 9.08 on Friday. The firm has a market cap of $569.22 million and a price-to-earnings ratio of 51.89. Richmont Mines has a 1-year low of $3.80 and a 1-year high of $15.01. The company has a 50 day moving average of $11.83 and a 200 day moving average of $11.96.
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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