TD Securities Trims Richmont Mines Inc. (RIC) Target Price to C$14.20
Richmont Mines Inc. (TSE:RIC) (ARCA:RIC) had its price target reduced by analysts at TD Securities from C$15.50 to C$14.20 in a report issued on Tuesday. The brokerage presently has a “tender” rating on the stock. TD Securities’ price target suggests a potential upside of 17.36% from the company’s current price.
RIC has been the subject of a number of other reports. Scotiabank reiterated a “tender” rating and set a C$12.25 price objective on shares of Richmont Mines in a report on Tuesday. CIBC decreased their price objective on Richmont Mines from C$15.50 to C$14.25 in a report on Tuesday. BMO Capital Markets reiterated a “market perform” rating and set a C$12.25 price objective on shares of Richmont Mines in a report on Tuesday, May 30th. National Bank Financial reiterated an “outperform market weight” rating on shares of Richmont Mines in a report on Monday, May 22nd. Finally, Cormark upgraded Richmont Mines from a “market perform” rating to a “buy” rating and set a C$14.00 price objective for the company in a report on Thursday, June 1st. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of C$13.65.
Shares of Richmont Mines (TSE RIC) traded up 2.98% during midday trading on Tuesday, reaching $12.10. 2,549,241 shares of the company’s stock traded hands. The firm has a market capitalization of $771.50 million and a P/E ratio of 44.16. The stock’s 50 day moving average price is $10.44 and its 200 day moving average price is $10.03. Richmont Mines has a 52-week low of $7.36 and a 52-week high of $15.01.
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In other Richmont Mines news, Director Renaud Adams sold 29,900 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of C$10.00, for a total value of C$299,000.00. Also, insider Christian Bourcier sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of C$10.53, for a total value of C$105,300.00. Over the last 90 days, insiders sold 40,500 shares of company stock valued at $410,150.
About Richmont Mines
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.
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