Richmont Mines Inc. (RIC) Receives Consensus Recommendation of “Buy” from Brokerages
Richmont Mines Inc. (TSE:RIC) (ARCA:RIC) has been assigned a consensus rating of “Buy” from the eight research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is C$13.67.
Several research firms recently weighed in on RIC. National Bank Financial began coverage on Richmont Mines in a research report on Tuesday, May 23rd. They set an “outperform” rating and a C$13.50 price target on the stock. Cormark upgraded Richmont Mines from a “market perform” rating to a “buy” rating and set a C$14.00 price target 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 price target on shares of Richmont Mines in a research report on Tuesday, May 30th. Scotiabank restated a “sector perform” rating and set a C$12.50 price target on shares of Richmont Mines in a research report on Friday, May 19th. Finally, CIBC dropped their price target on Richmont Mines from C$15.50 to C$14.25 in a research report on Tuesday.
In other Richmont Mines news, insider Christian Bourcier sold 10,000 shares of the business’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of C$10.53, for a total value of C$105,300.00. Also, Director Renaud Adams sold 29,900 shares of the business’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of C$10.00, for a total value of C$299,000.00. Insiders sold 40,500 shares of company stock worth $410,150 over the last three months.
Richmont Mines (TSE RIC) traded up 2.98% during trading on Tuesday, hitting $12.10. The company’s stock had a trading volume of 2,549,241 shares. The firm has a 50 day moving average of $10.40 and a 200 day moving average of $10.02. Richmont Mines has a 12 month low of $7.36 and a 12 month high of $15.01. The firm has a market cap of $771.50 million and a P/E ratio of 44.16.
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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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