Richmont Mines, Inc. (RIC) Earns “Buy” Rating from TD Securities
TD Securities reaffirmed their buy rating on shares of Richmont Mines, Inc. (NYSE:RIC) (TSE:RIC) in a research note released on Friday. TD Securities currently has a $12.33 price objective on the basic materials company’s stock.
Separately, Zacks Investment Research lowered Richmont Mines from a buy rating to a hold rating in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Richmont Mines has a consensus rating of Hold and a consensus price target of $11.67.
Shares of Richmont Mines (NYSE RIC) traded up $0.25 during trading on Friday, reaching $9.60. The company had a trading volume of 868,200 shares, compared to its average volume of 466,921. The company has a market capitalization of $612.66, a price-to-earnings ratio of 36.92 and a beta of 0.31. Richmont Mines has a 1-year low of $5.45 and a 1-year high of $10.45. The company has a quick ratio of 2.86, a current ratio of 3.09 and a debt-to-equity ratio of 0.02.
Richmont Mines (NYSE:RIC) (TSE:RIC) last issued its quarterly earnings results on Wednesday, November 8th. The basic materials company reported $0.06 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.06. Richmont Mines had a return on equity of 10.07% and a net margin of 9.63%. The business had revenue of $36.55 million for the quarter, compared to analyst estimates of $36.45 million. Richmont Mines’s revenue for the quarter was up 52.0% compared to the same quarter last year. research analysts anticipate that Richmont Mines will post 0.25 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of the stock. Van ECK Associates Corp bought a new stake in Richmont Mines during the third quarter worth about $38,228,000. Montrusco Bolton Investments Inc. bought a new stake in Richmont Mines during the third quarter worth about $26,998,000. Magnetar Financial LLC bought a new stake in Richmont Mines during the third quarter worth about $15,896,000. Mackenzie Financial Corp bought a new stake in Richmont Mines during the third quarter worth about $10,431,000. Finally, JPMorgan Chase & Co. bought a new stake in Richmont Mines during the third quarter worth about $8,743,000. 53.83% of the stock is owned by institutional investors.
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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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