Richmont Mines, Inc. (RIC) Receives Consensus Recommendation of “Hold” from Brokerages

Richmont Mines, Inc. (ARCA:RIC) (TSE:RIC) has been given a consensus rating of “Hold” by the seven ratings firms that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $15.00.

Several equities research analysts recently weighed in on RIC shares. Zacks Investment Research upgraded Richmont Mines from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. BidaskClub upgraded Richmont Mines from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th.

A number of institutional investors have recently added to or reduced their stakes in the business. Havens Advisors LLC bought a new stake in Richmont Mines in the third quarter worth $311,000. Montrusco Bolton Investments Inc. bought a new stake in Richmont Mines in the third quarter worth $26,998,000. Aperio Group LLC boosted its holdings in Richmont Mines by 8.0% in the second quarter. Aperio Group LLC now owns 17,550 shares of the basic materials company’s stock worth $137,000 after acquiring an additional 1,294 shares in the last quarter. Financial & Investment Management Group Ltd. bought a new stake in Richmont Mines in the second quarter worth $4,274,000. Finally, KCG Holdings Inc. boosted its holdings in Richmont Mines by 40.8% in the first quarter. KCG Holdings Inc. now owns 60,358 shares of the basic materials company’s stock worth $429,000 after acquiring an additional 17,499 shares in the last quarter. 63.91% of the stock is currently owned by institutional investors and hedge funds.

Richmont Mines (ARCA RIC) traded down 2.05% during trading on Wednesday, hitting $9.55. The company’s stock had a trading volume of 191,131 shares. The firm has a 50 day moving average of $9.75 and a 200 day moving average of $8.20. Richmont Mines has a 12 month low of $5.45 and a 12 month high of $10.45. The firm has a market cap of $608.91 million, a P/E ratio of 42.44 and a beta of 0.41.

Richmont Mines (ARCA:RIC) (TSE:RIC) last released its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.02). Richmont Mines had a net margin of 9.44% and a return on equity of 8.16%. The firm had revenue of $59.30 million for the quarter, compared to the consensus estimate of $59.30 million. The business’s revenue was up 46.1% compared to the same quarter last year. Equities research analysts predict that Richmont Mines will post $0.28 earnings per share for the current year.

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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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