Richmont Mines Inc. (RIC) Receives Consensus Rating of “Buy” from Analysts
Richmont Mines Inc. (TSE:RIC) (ARCA:RIC) has received an average recommendation of “Buy” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is C$13.67.
Several analysts recently issued reports on RIC shares. Scotiabank restated a “tender” rating and issued a C$12.25 price target on shares of Richmont Mines in a research note on Tuesday, September 12th. CIBC reduced their price target on Richmont Mines from C$15.50 to C$14.25 in a research note on Tuesday, September 12th. Finally, TD Securities reduced their price target on Richmont Mines from C$15.50 to C$14.20 and set a “tender” rating for the company in a research note on Tuesday, September 12th.
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In other news, Director Renaud Adams purchased 5,000 shares of Richmont Mines stock in a transaction that occurred on Tuesday, August 15th. The stock was acquired at an average cost of C$9.69 per share, for a total transaction of C$48,450.00. Insiders sold a total of 30,500 shares of company stock valued at $304,850 over the last 90 days.
Shares of Richmont Mines (RIC) traded up 0.65% on Friday, hitting $12.31. The stock had a trading volume of 293,228 shares. The stock’s 50-day moving average price is $11.80 and its 200 day moving average price is $10.40. The company has a market cap of $784.89 million and a PE ratio of 44.93. Richmont Mines has a 52 week low of $7.36 and a 52 week high of $13.38.
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.
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