Other equities research analysts have also issued reports about the company. TD Securities reaffirmed a buy rating and set a $16.50 target price (up from $15.00) on shares of Richmont Mines in a research report on Thursday, August 11th. Zacks Investment Research raised Richmont Mines from a hold rating to a buy rating and set a $11.00 target price for the company in a research report on Saturday, September 10th. Canaccord Genuity reaffirmed a buy rating and set a $17.00 target price (up from $15.50) on shares of Richmont Mines in a research report on Wednesday, August 10th. BMO Capital Markets set a $14.00 target price on Richmont Mines and gave the company a hold rating in a research report on Monday, September 12th. Finally, TheStreet lowered Richmont Mines from a buy rating to a hold rating in a research report on Friday, August 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Richmont Mines currently has a consensus rating of Hold and an average price target of $14.06.
Richmont Mines (NYSE:RIC) traded up 0.34% during midday trading on Friday, hitting $8.79. The company had a trading volume of 363,200 shares. The stock has a 50 day moving average price of $9.60 and a 200-day moving average price of $8.81. Richmont Mines has a 52 week low of $2.79 and a 52 week high of $11.66. The stock has a market capitalization of $551.04 million and a PE ratio of 66.09.
Richmont Mines (NYSE:RIC) last issued its earnings results on Monday, August 8th. The company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.09. The firm had revenue of $40.62 million for the quarter, compared to the consensus estimate of $40.55 million. On average, equities analysts predict that Richmont Mines will post $0.28 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp acquired a new position in shares of Richmont Mines during the second quarter valued at about $14,195,000. Sprott Inc. raised its position in shares of Richmont Mines by 82.0% in the second quarter. Sprott Inc. now owns 2,001,941 shares of the company’s stock valued at $18,438,000 after buying an additional 901,941 shares in the last quarter. Greystone Managed Investments Inc. acquired a new position in shares of Richmont Mines during the second quarter valued at about $6,811,000. Bank of Montreal Can acquired a new position in shares of Richmont Mines during the second quarter valued at about $6,344,000. Finally, Montrusco Bolton Investments Inc. raised its position in shares of Richmont Mines by 160.5% in the second quarter. Montrusco Bolton Investments Inc. now owns 1,071,412 shares of the company’s stock valued at $9,892,000 after buying an additional 660,193 shares in the last quarter.
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