Richmont Mines Inc. (RIC) Given Average Recommendation of “Hold” by Analysts
Shares of Richmont Mines Inc. (NYSE:RIC) (TSE:RIC) have earned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $12.33.
Several research firms recently issued reports on RIC. Zacks Investment Research cut Richmont Mines from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. TD Securities restated a “buy” rating and set a $12.33 target price on shares of Richmont Mines in a report on Friday, November 24th.
Shares of Richmont Mines (NYSE:RIC) traded up $0.25 during trading on Monday, hitting $9.60. The company had a trading volume of 868,200 shares, compared to its average volume of 466,921. The company has a current ratio of 3.09, a quick ratio of 2.86 and a debt-to-equity ratio of 0.02. Richmont Mines has a 1 year low of $5.45 and a 1 year high of $10.45. The stock has a market cap of $611.66 and a price-to-earnings ratio of 35.56.
Institutional investors have recently modified their holdings of the company. Aperio Group LLC boosted its holdings in shares of Richmont Mines by 8.0% during the 2nd quarter. Aperio Group LLC now owns 17,550 shares of the basic materials company’s stock worth $137,000 after purchasing an additional 1,294 shares during the last quarter. Gamco Investors INC. ET AL purchased a new stake in shares of Richmont Mines during the 3rd quarter valued at approximately $191,000. U S Global Investors Inc. purchased a new stake in shares of Richmont Mines during the 3rd quarter valued at approximately $245,000. Canada Pension Plan Investment Board purchased a new stake in shares of Richmont Mines during the 3rd quarter valued at approximately $278,000. Finally, Harvest Management LLC purchased a new stake in shares of Richmont Mines during the 3rd quarter valued at approximately $280,000. Institutional investors and hedge funds own 53.83% of the company’s stock.
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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