Richmont Mines Inc. (TSE:RIC) (ARCA:RIC)’s share price shot up 0.9% during mid-day trading on Tuesday . The company traded as high as C$11.36 and last traded at C$11.35. 303,085 shares changed hands during mid-day trading, a decline of 19% from the average session volume of 375,540 shares. The stock had previously closed at C$11.25.

Several equities analysts have recently weighed in on the company. Scotiabank restated a “tender” rating and set a C$12.25 price target on shares of Richmont Mines in a report on Tuesday, September 12th. CIBC reduced their price target on Richmont Mines from C$15.50 to C$14.25 in a report 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 report on Tuesday, September 12th. One investment 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 a consensus target price of C$13.65.

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About Richmont Mines

Richmont Mines Inc, formerly Ressources Minieres Rouyn Inc, is a Canada-based mining company. The Company is engaged in the 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.

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