Richmont Mines Inc. (ARCA:RIC) (TSE:RIC) has received an average recommendation of “Buy” from the six analysts that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company.

A number of equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Richmont Mines from a “sell” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Thursday, October 19th. BidaskClub raised shares of Richmont Mines from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th.

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Richmont Mines (ARCA RIC) traded down $0.10 during trading on Friday, reaching $8.60. 124,100 shares of the company were exchanged, compared to its average volume of 473,993. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.36 and a current ratio of 3.73. Richmont Mines has a 12 month low of $5.45 and a 12 month high of $10.45.

Richmont Mines (ARCA:RIC) (TSE:RIC) last posted its quarterly earnings data on Wednesday, November 8th. The basic materials company reported $0.06 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.06. Richmont Mines had a net margin of 9.44% and a return on equity of 8.16%. The company had revenue of $36.55 million for the quarter, compared to analyst estimates of $36.45 million. The firm’s revenue for the quarter was up 52.0% compared to the same quarter last year.

Several large investors have recently modified their holdings of the company. Citadel Advisors LLC purchased a new position in shares of Richmont Mines during the third quarter worth approximately $558,000. JPMorgan Chase & Co. purchased a new position in shares of Richmont Mines during the third quarter worth approximately $8,743,000. AGF Investments Inc. purchased a new position in shares of Richmont Mines during the third quarter worth approximately $3,486,000. TD Asset Management Inc. purchased a new position in shares of Richmont Mines during the third quarter worth approximately $2,821,000. Finally, Van ECK Associates Corp purchased a new position in shares of Richmont Mines during the third quarter worth approximately $38,228,000. 63.91% of the stock is currently owned by institutional investors and hedge funds.

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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