Richmont Mines Inc. (RIC) Receives Sector Perform Rating from Scotiabank
Scotiabank restated their sector perform rating on shares of Richmont Mines Inc. (TSE:RIC) in a research note released on Tuesday morning. Scotiabank currently has a C$14.75 price objective on the stock.
A number of other analysts have also recently weighed in on RIC. Desjardins boosted their price target on Richmont Mines from C$12.00 to C$12.25 in a research report on Wednesday, June 8th. Pi Financial boosted their price target on Richmont Mines from C$11.00 to C$12.00 and gave the stock a buy rating in a research report on Wednesday, June 8th. TD Securities boosted their price target on Richmont Mines from C$12.50 to C$13.00 and gave the stock a buy rating in a research report on Thursday, June 9th. Canaccord Genuity lifted their price objective on Richmont Mines from C$11.50 to C$15.50 in a research note on Tuesday, July 12th. Finally, National Bank Financial lifted their price objective on Richmont Mines from C$11.70 to C$12.50 in a research note on Wednesday, July 13th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of C$12.16.
Shares of Richmont Mines (TSE:RIC) opened at 12.29 on Tuesday. Richmont Mines has a one year low of $3.50 and a one year high of $14.99. The company has a 50 day moving average price of $12.82 and a 200 day moving average price of $10.59. The company has a market cap of $770.45 million and a P/E ratio of 70.23.
About Richmont Mines
Richmont Mines Inc is a mining company. The Company is engaged in activities related to the acquisition, exploration, development and operation of mineral properties. Its segments include Quebec and Ontario. It has two divisions: Ontario Division and Quebec Division. Its Island Gold Mine is located approximately 80 kilometers northeast of Wawa, Ontario in the Sault Ste.
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