Equities Analysts Offer Predictions for Richmont Mines Inc.’s Q3 2017 Earnings (RIC)
Richmont Mines Inc. (TSE:RIC) (ARCA:RIC) – Analysts at Cormark increased their Q3 2017 earnings per share estimates for shares of Richmont Mines in a note issued to investors on Monday. Cormark analyst R. Gray now forecasts that the company will post earnings of $0.08 per share for the quarter, up from their prior forecast of $0.06.
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Several other analysts have also recently issued reports on the company. TD Securities cut their target price on Richmont Mines from C$15.50 to C$14.20 and set a “tender” rating for the company in a research report on Tuesday, September 12th. Scotiabank reiterated a “tender” rating and set a C$12.25 target price on shares of Richmont Mines in a research report on Tuesday, September 12th. Finally, CIBC cut their target price on Richmont Mines from C$15.50 to C$14.25 in a research report on Tuesday, September 12th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Richmont Mines has an average rating of “Buy” and an average price target of C$13.65.
Richmont Mines (TSE RIC) opened at 12.06 on Tuesday. The firm’s 50-day moving average price is $11.92 and its 200-day moving average price is $10.43. Richmont Mines has a 12-month low of $7.36 and a 12-month high of $13.38. The stock has a market cap of $768.95 million and a price-to-earnings ratio of 44.01.
In other news, Director Renaud Adams purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was bought at an average cost of C$9.69 per share, with a total value of C$48,450.00. Over the last three months, insiders have sold 30,500 shares of company stock valued at $304,850.
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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