Richmont Mines Inc. (RIC) Upgraded to “Outperform” by National Bank Financial
Several other research firms also recently issued reports on RIC. CIBC downgraded Richmont Mines from a sector outperform rating to a sector perform rating and upped their price objective for the stock from $13.00 to $14.50 in a report on Tuesday, August 9th. BMO Capital Markets set a $14.00 price objective on Richmont Mines and gave the stock a hold rating in a report on Monday, August 8th. Canaccord Genuity reaffirmed a buy rating and set a $17.00 price objective (up previously from $15.50) on shares of Richmont Mines in a report on Wednesday, August 10th. Scotiabank reaffirmed a sector perform rating and set a $14.75 price objective on shares of Richmont Mines in a report on Thursday, August 11th. Finally, TD Securities reaffirmed a buy rating and set a $16.50 price objective (up previously from $15.00) on shares of Richmont Mines in a report on Thursday, August 11th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Richmont Mines presently has an average rating of Hold and a consensus target price of $14.06.
Shares of Richmont Mines (NYSE:RIC) traded down 1.9603% during mid-day trading on Thursday, hitting $6.6667. The stock had a trading volume of 70,397 shares. The stock’s 50-day moving average price is $8.69 and its 200-day moving average price is $9.14. Richmont Mines has a 12-month low of $2.79 and a 12-month high of $11.66. The stock has a market capitalization of $417.93 million and a price-to-earnings ratio of 51.2823.
Richmont Mines (NYSE:RIC) last announced its earnings results on Thursday, November 10th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The business earned $23.90 million during the quarter, compared to analyst estimates of $27.92 million. Richmont Mines’s quarterly revenue was down 8.5% on a year-over-year basis. On average, equities analysts anticipate that Richmont Mines will post $0.23 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. purchased a new stake in Richmont Mines during the second quarter worth approximately $102,000. Vanguard Group Inc. purchased a new stake in Richmont Mines during the second quarter worth approximately $102,000. Flow Traders U.S. LLC purchased a new stake in Richmont Mines during the third quarter worth approximately $104,000. AMP Capital Investors Ltd purchased a new stake in Richmont Mines during the third quarter worth approximately $110,000. Finally, CIBC World Markets Inc. purchased a new stake in Richmont Mines during the third quarter worth approximately $126,000.
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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