Bank of Montreal Can purchased a new position in Richmont Mines Inc. (NYSE:RIC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 688,846 shares of the company’s stock, valued at approximately $6,344,000.
A number of other institutional investors also recently added to or reduced their stakes in RIC. James Investment Research Inc. boosted its position in Richmont Mines by 13.2% in the second quarter. James Investment Research Inc. now owns 783,590 shares of the company’s stock worth $7,217,000 after buying an additional 91,130 shares in the last quarter. Montrusco Bolton Investments Inc. boosted its position in Richmont Mines by 160.5% in the second quarter. Montrusco Bolton Investments Inc. now owns 1,071,412 shares of the company’s stock worth $9,892,000 after buying an additional 660,193 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in Richmont Mines by 2.0% in the second quarter. Acadian Asset Management LLC now owns 1,184,445 shares of the company’s stock worth $10,908,000 after buying an additional 23,485 shares in the last quarter.
Shares of Richmont Mines Inc. (NYSE:RIC) traded up 0.84% during trading on Friday, reaching $8.43. The company had a trading volume of 417,234 shares. The stock has a 50 day moving average price of $9.65 and a 200 day moving average price of $8.71. The firm has a market capitalization of $528.47 million and a PE ratio of 63.38. Richmont Mines Inc. has a 12 month low of $2.79 and a 12 month high of $11.66.
Richmont Mines (NYSE:RIC) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.09. The firm had revenue of $40.62 million for the quarter, compared to analysts’ expectations of $40.55 million. On average, equities research analysts forecast that Richmont Mines Inc. will post $0.28 EPS for the current year.
A number of equities analysts have weighed in on the company. TheStreet cut Richmont Mines from a “buy” rating to a “hold” rating in a report on Friday, August 12th. Scotiabank restated a “sector perform” rating and issued a $14.75 price target on shares of Richmont Mines in a report on Thursday, August 11th. BMO Capital Markets set a $14.00 price target on Richmont Mines and gave the stock a “hold” rating in a report on Monday, September 12th. National Bank Financial restated a “sector perform” rating and issued a $13.50 price target (up previously from $12.50) on shares of Richmont Mines in a report on Thursday, August 11th. Finally, TD Securities restated a “buy” rating and issued a $16.50 price target (up previously from $15.00) on shares of Richmont Mines in a report on Thursday, August 11th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $14.16.
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