Richmont Mines Inc. (RIC) Downgraded by Zacks Investment Research
According to Zacks, “Richmont Mines, Inc. is a gold mining company. It has operations in Quebec, Ontario and Newfoundland and holds interests in the Francoeur Mine, Beaufor Mine and Camflo Mill in Quebec, and the Island Gold Mine in Ontario. Richmont Mines, Inc., formerly known as Ressources Minieres Rouyn Inc., is headquartered in Rouyn-Noranda, Canada. “
RIC has been the topic of several other reports. TheStreet downgraded Richmont Mines from a buy rating to a hold rating in a report on Friday, August 12th. Scotiabank reiterated a sector perform rating and issued a $14.75 price target on shares of Richmont Mines in a report on Thursday, August 11th. TD Securities reiterated a buy rating and issued a $13.00 price target (up from $12.50) on shares of Richmont Mines in a report on Thursday, June 9th. BMO Capital Markets set a $14.00 price target on Richmont Mines and gave the company a hold rating in a report on Monday, September 12th. Finally, Pi Financial reiterated a buy rating and issued a $12.00 price target (up from $11.00) on shares of Richmont Mines in a report on Thursday, June 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $14.16.
Shares of Richmont Mines (NYSE:RIC) opened at 10.09 on Wednesday. Richmont Mines has a 52-week low of $2.62 and a 52-week high of $11.48. The stock has a market cap of $632.53 million and a PE ratio of 74.19. The company’s 50-day moving average price is $9.95 and its 200-day moving average price is $8.14.
Richmont Mines (NYSE:RIC) last released its quarterly earnings data on Monday, August 8th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.06 by $0.09. The firm had revenue of $40.62 million for the quarter, compared to analysts’ expectations of $40.55 million. On average, equities research analysts forecast that Richmont Mines will post $0.27 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. James Investment Research Inc. boosted its stake in Richmont Mines by 13.2% in the second quarter. James Investment Research Inc. now owns 783,590 shares of the company’s stock worth $7,217,000 after buying an additional 91,130 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Richmont Mines by 2.0% in the second quarter. Acadian Asset Management LLC now owns 1,184,445 shares of the company’s stock worth $10,908,000 after buying an additional 23,485 shares during the last quarter. Montrusco Bolton Investments Inc. boosted its stake in Richmont Mines by 160.5% in the second quarter. Montrusco Bolton Investments Inc. now owns 1,071,412 shares of the company’s stock worth $9,892,000 after buying an additional 660,193 shares during the last quarter. Bank of Montreal Can acquired a new stake in Richmont Mines during the second quarter worth $6,344,000. Finally, Alps Advisors Inc. acquired a new stake in Richmont Mines during the second quarter worth $4,599,000.
About Richmont Mines
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