Analysts Offer Predictions for Richmont Mines Inc.’s FY2017 Earnings (RIC)
Richmont Mines Inc. (TSE:RIC) (ARCA:RIC) – Investment analysts at National Bank Financial issued their FY2017 earnings per share (EPS) estimates for Richmont Mines in a report issued on Monday. National Bank Financial analyst R. Ray forecasts that the company will post earnings per share of $0.49 for the year. National Bank Financial has a “Outperform Market Weight” rating on the stock. National Bank Financial also issued estimates for Richmont Mines’ FY2018 earnings at $1.10 EPS, FY2019 earnings at $1.34 EPS and FY2020 earnings at $1.24 EPS.
Other equities analysts have also issued reports about the company. Scotiabank restated a “sector perform” rating and set a C$12.50 target price on shares of Richmont Mines in a report on Friday, May 19th. TD Securities restated a “buy” rating and set a C$15.50 target price on shares of Richmont Mines in a report on Friday, May 5th. Desjardins raised their target price on Richmont Mines from C$14.00 to C$14.25 and gave the company a “buy” rating in a report on Wednesday, February 1st. BMO Capital Markets restated a “market perform” rating and set a C$12.25 target price on shares of Richmont Mines in a report on Monday, April 17th. Finally, CIBC upgraded Richmont Mines from a “neutral” rating to an “outperform” rating and raised their target price for the company from C$14.50 to C$15.50 in a report on Wednesday, February 1st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Richmont Mines currently has an average rating of “Buy” and a consensus price target of C$13.75.
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Shares of Richmont Mines (TSE:RIC) opened at 9.62 on Thursday. The stock has a 50 day moving average price of $10.03 and a 200 day moving average price of $9.89. The stock has a market cap of $613.04 million and a P/E ratio of 65.89. Richmont Mines has a 12 month low of $7.36 and a 12 month high of $15.01.
In other news, Director Renaud Adams sold 50,000 shares of Richmont Mines stock in a transaction dated Tuesday, April 18th. The stock was sold at an average price of C$10.36, for a total value of C$518,000.00. Also, insider Mélissa Tardif sold 10,000 shares of Richmont Mines stock in a transaction dated Friday, February 24th. The stock was sold at an average price of C$11.32, for a total value of C$113,200.00. Insiders sold 121,020 shares of company stock worth $1,199,431 over the last quarter.
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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