CIBC Trims Richmont Mines Inc. (RIC) Target Price to C$14.25
A number of other equities analysts have also recently issued reports on the company. National Bank Financial started coverage on Richmont Mines in a report on Tuesday, May 23rd. They issued an outperform rating and a C$13.50 price objective for the company. 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. BMO Capital Markets reiterated a market perform rating and issued a C$12.25 price objective on shares of Richmont Mines in a report on Tuesday, May 30th. Finally, Scotiabank reiterated a sector perform rating and issued a C$12.50 price objective on shares of Richmont Mines in a report on Friday, May 19th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of C$13.65.
Shares of Richmont Mines (RIC) opened at 12.79 on Tuesday. The firm has a market capitalization of $815.49 million and a price-to-earnings ratio of 46.68. Richmont Mines has a 52 week low of $7.36 and a 52 week high of $15.01. The stock’s 50 day moving average price is $10.70 and its 200-day moving average price is $10.09.
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In related news, insider Christian Bourcier sold 10,000 shares of the stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of C$10.53, for a total transaction of C$105,300.00. Also, Director Renaud Adams bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were bought at an average price of C$9.69 per share, with a total value of C$48,450.00. Insiders have sold a total of 40,500 shares of company stock valued at $410,150 over the last 90 days.
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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