Richmont Mines Inc. (ARCA:RIC) has received a consensus rating of “Buy” from the nine analysts that are currently covering the firm. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $15.13.

A number of equities analysts recently issued reports on the stock. TheStreet upgraded shares of Richmont Mines from a “c” rating to a “b” rating in a research note on Wednesday, April 5th. CIBC upgraded shares of Richmont Mines from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, February 1st. Finally, BMO Capital Markets upgraded shares of Richmont Mines from an “underperform” rating to a “market perform” rating in a research note on Wednesday, February 1st.

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Richmont Mines (ARCA:RIC) traded down 2.318% on Friday, hitting $7.375. 188,353 shares of the company were exchanged. The stock has a market capitalization of $469.98 million, a P/E ratio of 68.925 and a beta of 0.35. Richmont Mines has a 52 week low of $5.45 and a 52 week high of $11.66. The company has a 50 day moving average price of $7.41 and a 200-day moving average price of $7.48.

Richmont Mines (ARCA:RIC) last announced its quarterly earnings results on Thursday, May 4th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.01. The company had revenue of $46.50 million for the quarter, compared to analysts’ expectations of $45.88 million. Richmont Mines had a net margin of 4.59% and a return on equity of 3.95%. The company’s revenue was down 11.6% on a year-over-year basis. On average, equities analysts expect that Richmont Mines will post $0.31 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the company. KCG Holdings Inc. boosted its position in shares of 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 buying an additional 17,499 shares during the last quarter. U S Global Investors Inc boosted its position in shares of Richmont Mines by 50.0% in the first quarter. U S Global Investors Inc now owns 300,000 shares of the basic materials company’s stock worth $2,130,000 after buying an additional 100,000 shares during the last quarter. Morgan Stanley boosted its position in shares of Richmont Mines by 33.9% in the first quarter. Morgan Stanley now owns 438,422 shares of the basic materials company’s stock worth $3,113,000 after buying an additional 110,899 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Richmont Mines by 11.3% in the first quarter. Vanguard Group Inc. now owns 19,899 shares of the basic materials company’s stock worth $142,000 after buying an additional 2,028 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Richmont Mines by 0.8% in the first quarter. Mackenzie Financial Corp now owns 1,222,900 shares of the basic materials company’s stock worth $8,683,000 after buying an additional 9,900 shares during the last quarter. Institutional investors own 70.01% 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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