Richmont Mines Inc. (NYSE:RIC)‘s stock had its “sector perform” rating restated by investment analysts at Scotiabank in a report released on Saturday. They currently have a $15.00 target price on the stock. Scotiabank’s price objective would indicate a potential upside of 70.65% from the company’s previous close.
A number of other analysts have also recently commented on the stock. TheStreet cut shares of Richmont Mines from a “buy” rating to a “hold” rating in a report on Friday, August 12th. BMO Capital Markets cut shares of Richmont Mines from a “market perform” rating to an “underperform” rating in a report on Thursday, September 29th. CIBC cut shares of Richmont Mines from a “sector outperform” rating to a “sector perform” rating and boosted their target price for the company from $13.00 to $14.50 in a report on Tuesday, August 9th. TD Securities restated a “buy” rating and set a $16.50 target price (up previously from $15.00) on shares of Richmont Mines in a report on Thursday, August 11th. Finally, Zacks Investment Research upgraded shares of Richmont Mines from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Saturday, September 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Richmont Mines has an average rating of “Hold” and an average price target of $14.06.
Richmont Mines (NYSE:RIC) traded up 0.34% during mid-day trading on Friday, reaching $8.79. 363,200 shares of the company were exchanged. The company has a market capitalization of $551.04 million and a PE ratio of 66.09. 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 one year low of $2.79 and a one year high of $11.66.
Richmont Mines (NYSE:RIC) last announced its earnings results on Monday, August 8th. The company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.09. The business had revenue of $40.62 million for the quarter, compared to the consensus estimate of $40.55 million. Analysts predict that Richmont Mines will post $0.28 EPS for the current year.
Institutional investors have recently modified their holdings of the company. Royal Bank of Canada raised its position in shares of Richmont Mines by 7.5% in the second quarter. Royal Bank of Canada now owns 3,122,602 shares of the company’s stock worth $28,760,000 after buying an additional 218,066 shares during the period. 1832 Asset Management L.P. raised its position in shares of Richmont Mines by 12.3% in the second quarter. 1832 Asset Management L.P. now owns 2,290,000 shares of the company’s stock worth $35,332,000 after buying an additional 250,000 shares during the period. 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 worth $18,438,000 after buying an additional 901,941 shares during the period. Mackenzie Financial Corp acquired a new position in shares of Richmont Mines during the second quarter worth $14,195,000. Finally, Acadian Asset Management LLC raised its position in shares of 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 during the period.
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