Richmont Mines Inc. (RIC) Receives Average Rating of “Buy” from Analysts
Richmont Mines Inc. (TSE:RIC) (ARCA:RIC) has earned a consensus recommendation of “Buy” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is C$14.07.
Several equities research analysts recently weighed in on RIC shares. Cormark raised shares of Richmont Mines from a “market perform” rating to a “buy” rating and set a C$14.00 price objective for the company in a report on Thursday, June 1st. National Bank Financial started coverage on shares of Richmont Mines in a report on Tuesday, May 23rd. They issued an “outperform” rating and a C$13.50 price objective for the company. Scotiabank reaffirmed a “sector perform” rating and issued a C$12.50 price objective on shares of Richmont Mines in a report on Wednesday, February 22nd. TD Securities reaffirmed a “buy” rating and issued a C$15.50 price objective on shares of Richmont Mines in a report on Wednesday, February 22nd. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a C$12.25 price objective on shares of Richmont Mines in a report on Tuesday, May 30th.
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Shares of Richmont Mines (RIC) opened at 10.00 on Monday. Richmont Mines has a 12 month low of $7.36 and a 12 month high of $15.01. The stock has a 50 day moving average price of $9.86 and a 200-day moving average price of $9.95. The company has a market capitalization of $637.26 million and a PE ratio of 68.49.
In other news, insider Robert Joseph Chausse acquired 15,000 shares of Richmont Mines stock in a transaction on Wednesday, March 22nd. The stock was bought at an average cost of C$9.72 per share, with a total value of C$145,800.00. Also, insider Christian Bourcier sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of C$10.10, for a total transaction of C$101,000.00.
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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