Richmont Mines Inc. (RIC) Receives $12.33 Average PT from Brokerages

Richmont Mines Inc. (NYSE:RIC) (TSE:RIC) has been assigned an average rating of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $12.33.

Several equities analysts have issued reports on RIC shares. Zacks Investment Research downgraded shares of Richmont Mines from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. TD Securities reaffirmed a “buy” rating and set a $12.33 price objective on shares of Richmont Mines in a report on Friday, November 24th.

Several hedge funds and other institutional investors have recently bought and sold shares of RIC. Aperio Group LLC increased its stake in Richmont Mines by 8.0% in the 2nd quarter. Aperio Group LLC now owns 17,550 shares of the basic materials company’s stock valued at $137,000 after buying an additional 1,294 shares during the period. Gamco Investors INC. ET AL acquired a new position in shares of Richmont Mines during the 3rd quarter worth $191,000. U S Global Investors Inc. acquired a new position in shares of Richmont Mines during the 3rd quarter worth $245,000. Canada Pension Plan Investment Board acquired a new position in shares of Richmont Mines during the 3rd quarter worth $278,000. Finally, Harvest Management LLC acquired a new position in shares of Richmont Mines during the 3rd quarter worth $280,000. 53.83% of the stock is owned by institutional investors and hedge funds.

Richmont Mines has a 1-year low of $5.45 and a 1-year high of $10.45. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.09 and a quick ratio of 2.86.

Richmont Mines (NYSE:RIC) (TSE:RIC) last released its quarterly earnings data on Wednesday, November 8th. The basic materials company reported $0.06 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.06. The firm had revenue of $36.55 million for the quarter, compared to analyst estimates of $36.45 million. Richmont Mines had a net margin of 13.14% and a return on equity of 8.60%. The business’s revenue was up 52.0% compared to the same quarter last year. equities analysts anticipate that Richmont Mines will post 0.25 earnings per share for the current fiscal year.

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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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