Richmont Mines Inc. (RIC) Given Average Rating of “Buy” by Brokerages
Shares of Richmont Mines Inc. (TSE:RIC) (ARCA:RIC) have earned an average rating of “Buy” from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is C$14.07.
RIC has been the topic of several research analyst reports. Scotiabank reaffirmed a “sector perform” rating and issued a C$12.50 price objective on shares of Richmont Mines in a research note on Monday, April 17th. TD Securities reaffirmed a “buy” rating and issued a C$15.50 price objective on shares of Richmont Mines in a research note on Friday, May 5th. National Bank Financial initiated coverage on Richmont Mines in a research note on Tuesday, May 23rd. They issued an “outperform” rating and a C$13.50 price objective on the stock. BMO Capital Markets reaffirmed a “market perform” rating and issued a C$12.25 price objective on shares of Richmont Mines in a research note on Monday, April 17th. Finally, Cormark raised Richmont Mines from a “market perform” rating to a “buy” rating and set a C$14.00 price objective on the stock in a research note on Thursday, June 1st.
Richmont Mines (RIC) opened at 9.63 on Tuesday. Richmont Mines has a 12 month low of $7.36 and a 12 month high of $15.01. The company’s 50-day moving average is $9.97 and its 200 day moving average is $10.19. The firm has a market cap of $613.68 million and a P/E ratio of 65.96.
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In other news, insider Christian Bourcier sold 10,000 shares of Richmont Mines stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of C$10.53, for a total transaction of C$105,300.00.
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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