Richmont Mines Inc. (RIC) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of Richmont Mines Inc. (TSE:RIC) (ARCA:RIC) have earned a consensus rating of “Buy” from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is C$13.67.
Several equities analysts recently issued reports on RIC shares. TD Securities cut their price objective on shares of Richmont Mines from C$15.50 to C$14.20 and set a “tender” rating on the stock in a report on Tuesday, September 12th. Scotiabank reissued a “tender” rating and set a C$12.25 price objective on shares of Richmont Mines in a report on Tuesday, September 12th. Finally, CIBC cut their price objective on shares of Richmont Mines from C$15.50 to C$14.25 in a report on Tuesday, September 12th.
In other Richmont Mines news, Director Renaud Adams sold 29,900 shares of Richmont Mines stock in a transaction on Friday, August 18th. The shares were sold at an average price of C$10.00, for a total value of C$299,000.00. Insiders sold 30,500 shares of company stock worth $304,850 over the last ninety days.
Richmont Mines (RIC) traded down 0.18% during mid-day trading on Wednesday, hitting $11.21. The company had a trading volume of 155,400 shares. The firm has a market capitalization of $714.75 million and a PE ratio of 40.91. The company has a 50 day moving average of $12.00 and a 200 day moving average of $10.57. Richmont Mines has a 1-year low of $7.36 and a 1-year high of $13.38.
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About Richmont Mines
Richmont Mines Inc, formerly Ressources Minieres Rouyn Inc, is a Canada-based mining company. The Company is engaged in the 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.
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