Bank of Montreal Can lowered its stake in shares of Richmont Mines Inc. (ARCA:RIC) by 44.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,427,200 shares of the basic materials company’s stock after selling 1,138,100 shares during the period. Bank of Montreal Can owned approximately 2.26% of Richmont Mines worth $11,132,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp boosted its position in shares of Richmont Mines by 24.8% in the first quarter. Van ECK Associates Corp now owns 9,192,948 shares of the basic materials company’s stock valued at $65,262,000 after buying an additional 1,829,538 shares during the period. Montrusco Bolton Investments Inc. boosted its stake in Richmont Mines by 59.1% in the first quarter. Montrusco Bolton Investments Inc. now owns 2,590,527 shares of the basic materials company’s stock worth $18,317,000 after buying an additional 961,851 shares during the last quarter. OppenheimerFunds Inc. boosted its stake in Richmont Mines by 27.5% in the first quarter. OppenheimerFunds Inc. now owns 2,027,000 shares of the basic materials company’s stock worth $14,374,000 after buying an additional 437,000 shares during the last quarter. Sentry Investments Corp. boosted its stake in Richmont Mines by 18.9% in the first quarter. Sentry Investments Corp. now owns 2,215,950 shares of the basic materials company’s stock worth $20,896,000 after buying an additional 351,550 shares during the last quarter. Finally, FMR LLC boosted its stake in Richmont Mines by 52.4% in the first quarter. FMR LLC now owns 876,343 shares of the basic materials company’s stock worth $6,214,000 after buying an additional 301,143 shares during the last quarter. 63.91% of the stock is owned by hedge funds and other institutional investors.

Shares of Richmont Mines Inc. (ARCA RIC) traded up 0.65% on Friday, reaching $7.75. The company’s stock had a trading volume of 214,506 shares. Richmont Mines Inc. has a 12 month low of $5.45 and a 12 month high of $11.66. The firm has a market cap of $494.14 million, a price-to-earnings ratio of 36.05 and a beta of 0.48. The stock has a 50 day moving average of $7.79 and a 200-day moving average of $7.72.

Richmont Mines (ARCA:RIC) last posted its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by $0.02. Richmont Mines had a net margin of 17.72% and a return on equity of 19.52%. The business had revenue of $59.30 million for the quarter, compared to analysts’ expectations of $59.30 million. The business’s revenue for the quarter was up 46.1% compared to the same quarter last year. On average, analysts anticipate that Richmont Mines Inc. will post $0.29 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Bank of Montreal Can Has $11.13 Million Stake in Richmont Mines Inc. (RIC)” was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this news story on another website, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this news story can be accessed at https://www.thecerbatgem.com/2017/08/19/bank-of-montreal-can-has-11-13-million-position-in-richmont-mines-inc-ric-updated-updated-updated.html.

A number of research firms have recently issued reports on RIC. Zacks Investment Research raised Richmont Mines from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. BidaskClub raised Richmont Mines from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Finally, National Bank Financial reaffirmed an “outperform market weight” rating on shares of Richmont Mines in a research report on Monday, May 22nd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $13.00.

Richmont Mines Company Profile

Richmont Mines Inc is a mining company. The Company is engaged in mining, exploration and development of mining properties, principally gold. The Company operates gold mines at various sites in Quebec and Ontario. The Company’s segments include Quebec and Ontario. The Company is engaged in producing gold from the Island Gold Mine in Ontario and the Beaufor Mine in Quebec.

Institutional Ownership by Quarter for Richmont Mines (ARCA:RIC)

Receive News & Stock Ratings for Richmont Mines Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Richmont Mines Inc. and related stocks with our FREE daily email newsletter.