Brokerages Set Richmont Mines Inc. (RIC) PT at $12.33

Shares of Richmont Mines Inc. (NYSE:RIC) (TSE:RIC) have earned a consensus recommendation of “Hold” from the seven ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $12.33.

A number of analysts recently commented on the stock. TD Securities reiterated a “buy” rating and issued a $12.33 target price on shares of Richmont Mines in a research note on Friday, November 24th. Zacks Investment Research upgraded shares of Richmont Mines from a “sell” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Thursday, October 19th.

Richmont Mines (NYSE RIC) traded up $0.25 during trading hours on Monday, hitting $9.60. 868,200 shares of the stock were exchanged, compared to its average volume of 466,921. Richmont Mines has a twelve month low of $5.45 and a twelve month high of $10.45. The company has a market cap of $611.66 and a PE ratio of 35.56. 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 released its quarterly earnings results on Wednesday, November 8th. The basic materials company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. Richmont Mines had a net margin of 13.14% and a return on equity of 8.60%. The business had revenue of $36.55 million for the quarter, compared to analysts’ expectations of $36.45 million. The firm’s quarterly revenue was up 52.0% compared to the same quarter last year. equities analysts expect that Richmont Mines will post 0.25 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in RIC. Van ECK Associates Corp acquired a new stake in Richmont Mines in the 3rd quarter worth approximately $38,228,000. Montrusco Bolton Investments Inc. acquired a new stake in Richmont Mines in the 3rd quarter worth approximately $26,998,000. Magnetar Financial LLC acquired a new stake in Richmont Mines in the 3rd quarter worth approximately $15,896,000. Mackenzie Financial Corp acquired a new stake in Richmont Mines in the 3rd quarter worth approximately $10,431,000. Finally, JPMorgan Chase & Co. acquired a new stake in Richmont Mines in the 3rd quarter worth approximately $8,743,000. Institutional investors own 53.83% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece of content was first published by Transcript Daily and is the sole property of of Transcript Daily. If you are accessing this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://transcriptdaily.com/2018/01/05/brokerages-set-richmont-mines-inc-ric-pt-at-12-33.html.

Richmont Mines Company Profile

Richmont Mines Inc, formerly Ressources Minieres Rouyn Inc, is a Canada-based mining company. The Company is engaged in the 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.

Receive News & Ratings for Richmont Mines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Richmont Mines and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply