Richmont Mines’ (RIC) Buy Rating Reaffirmed at TD Securities
Richmont Mines Inc. (TSE:RIC)‘s stock had its “buy” rating reissued by investment analysts at TD Securities in a report issued on Wednesday. They currently have a C$16.50 price objective on the stock. TD Securities’ price target suggests a potential upside of 25.28% from the company’s previous close.
Other analysts have also issued research reports about the company. National Bank Financial increased their target price on Richmont Mines from C$11.70 to C$12.50 in a report on Wednesday, July 13th. Canaccord Genuity increased their target price on Richmont Mines from C$11.50 to C$15.50 in a report on Tuesday, July 12th. Desjardins increased their target price on Richmont Mines from C$12.00 to C$12.25 in a report on Wednesday, June 8th. Pi Financial increased their price objective on Richmont Mines from C$11.00 to C$12.00 and gave the stock a “buy” rating in a report on Wednesday, June 8th. Finally, BMO Capital Markets increased their price objective on Richmont Mines from C$13.00 to C$14.00 and gave the stock a “market perform” rating in a report on Tuesday, August 9th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of C$12.16.
Richmont Mines (TSE:RIC) traded up 5.69% on Wednesday, hitting $13.92. The company had a trading volume of 254,881 shares. Richmont Mines has a 12-month low of $3.50 and a 12-month high of $14.99. The firm’s 50 day moving average price is $12.79 and its 200 day moving average price is $10.75. The stock has a market cap of $872.63 million and a P/E ratio of 79.54.
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About Richmont Mines
Richmont Mines Inc is a mining company. The Company is engaged in activities related to the acquisition, exploration, development and operation of mineral properties. Its segments include Quebec and Ontario. It has two divisions: Ontario Division and Quebec Division. Its Island Gold Mine is located approximately 80 kilometers northeast of Wawa, Ontario in the Sault Ste.
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