Richmont Mines Inc. (RIC) Given Average Rating of “Hold” by Brokerages
Richmont Mines Inc. (NYSE:RIC) (TSE:RIC) has been given a consensus recommendation of “Hold” by the seven brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $12.33.
A number of brokerages have weighed in on RIC. Zacks Investment Research lowered Richmont Mines from a “buy” rating to a “hold” rating in a report on Friday, October 27th. TD Securities reaffirmed a “buy” rating and issued a $12.33 price objective on shares of Richmont Mines in a report on Friday, November 24th.
Shares of Richmont Mines (NYSE RIC) traded up $0.25 on Thursday, reaching $9.60. The company’s stock had a trading volume of 868,200 shares, compared to its average volume of 466,921. Richmont Mines has a 12 month low of $5.45 and a 12 month high of $10.45. The stock has a market cap of $619.27 and a price-to-earnings ratio of 36.92. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.09 and a quick ratio of 2.86.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp purchased a new stake in Richmont Mines in the 3rd quarter valued at approximately $38,228,000. Montrusco Bolton Investments Inc. purchased a new stake in shares of Richmont Mines during the 3rd quarter worth approximately $26,998,000. Magnetar Financial LLC purchased a new stake in shares of Richmont Mines during the 3rd quarter worth approximately $15,896,000. Mackenzie Financial Corp purchased a new stake in shares of Richmont Mines during the 3rd quarter worth approximately $10,431,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Richmont Mines during the 3rd quarter worth approximately $8,743,000. 53.83% of the stock is currently owned by institutional investors.
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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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