Richmont Mines Inc. (RIC) Given Average Recommendation of “Buy” by Brokerages
Shares of Richmont Mines Inc. (TSE:RIC) (ARCA:RIC) have received an average recommendation of “Buy” from the eight analysts that are covering the firm, MarketBeat Ratings reports. Two equities 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 objective among analysts that have updated their coverage on the stock in the last year is C$14.07.
Several research firms have issued reports on RIC. Cormark upgraded Richmont Mines from a “market perform” rating to a “buy” rating and set a C$14.00 target price on the stock in a research report on Thursday, June 1st. BMO Capital Markets restated a “market perform” rating and set a C$12.25 target price on shares of Richmont Mines in a research report on Tuesday, May 30th. National Bank Financial restated an “outperform market weight” rating on shares of Richmont Mines in a research report on Monday, May 22nd. Scotiabank restated a “sector perform” rating and set a C$12.50 target price on shares of Richmont Mines in a research report on Friday, May 19th. Finally, TD Securities restated a “buy” rating and set a C$15.50 target price on shares of Richmont Mines in a research report on Friday, May 5th.
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Richmont Mines (RIC) opened at 9.00 on Friday. The firm’s 50-day moving average price is $10.02 and its 200-day moving average price is $10.04. The company has a market cap of $573.53 million and a price-to-earnings ratio of 61.64. Richmont Mines has a 1-year low of $7.36 and a 1-year high of $15.01.
In other news, insider Christian Bourcier sold 10,000 shares of the company’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of C$10.53, for a total value of C$105,300.00. Also, Director Renaud Adams sold 50,000 shares of the company’s stock in a transaction on Tuesday, April 18th. The stock was sold at an average price of C$10.36, for a total transaction of C$518,000.00.
About Richmont Mines
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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