Zacks: Brokerages Expect Richmont Mines Inc. (RIC) to Announce $0.03 Earnings Per Share
Brokerages expect Richmont Mines Inc. (NYSE:RIC) (TSE:RIC) to report earnings of $0.03 per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Richmont Mines’ earnings. Richmont Mines reported earnings per share of $0.01 during the same quarter last year, which indicates a positive year-over-year growth rate of 200%. The company is scheduled to announce its next earnings report on Tuesday, February 20th.
On average, analysts expect that Richmont Mines will report full year earnings of $0.33 per share for the current year, with EPS estimates ranging from $0.28 to $0.37. For the next fiscal year, analysts anticipate that the firm will post earnings of $0.37 per share, with EPS estimates ranging from $0.25 to $0.48. Zacks’ EPS averages are an average based on a survey of analysts that cover Richmont Mines.
Richmont Mines (NYSE:RIC) (TSE:RIC) last posted its quarterly earnings data on Wednesday, November 8th. The basic materials company reported $0.06 EPS for the quarter, meeting 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 during the quarter, compared to the consensus estimate of $36.45 million. The business’s quarterly revenue was up 52.0% on a year-over-year basis.
A number of research analysts have recently commented on RIC shares. Zacks Investment Research raised shares of Richmont Mines from a “sell” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Thursday, October 19th. BidaskClub upgraded Richmont Mines from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $11.00.
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Richmont Mines (NYSE RIC) opened at $8.55 on Wednesday. Richmont Mines has a one year low of $5.45 and a one year high of $10.45. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.36 and a current ratio of 3.73.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RIC. Van ECK Associates Corp purchased a new position in Richmont Mines in the 3rd quarter worth approximately $38,228,000. Montrusco Bolton Investments Inc. purchased a new position in Richmont Mines in the 3rd quarter worth approximately $26,998,000. Magnetar Financial LLC purchased a new position in Richmont Mines in the 3rd quarter worth approximately $15,896,000. Mackenzie Financial Corp purchased a new position in Richmont Mines in the 3rd quarter worth approximately $10,431,000. Finally, JPMorgan Chase & Co. purchased a new position in Richmont Mines in the 3rd quarter worth approximately $8,743,000. Hedge funds and other institutional investors own 63.91% of the company’s stock.
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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