Richmont Mines, Inc. (ARCA:RIC) has earned a consensus rating of “Buy” from the eight brokerages that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $16.17.
Several equities analysts have recently commented on the company. National Bank Financial reiterated an “outperform market weight” rating on shares of Richmont Mines in a research note on Monday, May 22nd. TheStreet upgraded Richmont Mines from a “c” rating to a “b” rating in a research note on Wednesday, April 5th.
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Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in Richmont Mines by 52.4% in the first quarter. FMR LLC now owns 876,343 shares of the basic materials company’s stock valued at $6,214,000 after buying an additional 301,143 shares during the period. OppenheimerFunds Inc. boosted its position in Richmont Mines by 27.5% in the first quarter. OppenheimerFunds Inc. now owns 2,027,000 shares of the basic materials company’s stock valued at $14,374,000 after buying an additional 437,000 shares during the period. Van ECK Associates Corp boosted its position in Richmont Mines by 24.8% in the first quarter. Van ECK Associates Corp now owns 9,192,948 shares of the basic materials company’s stock valued at $65,262,000 after buying an additional 1,829,538 shares during the period. AGF Investments Inc. boosted its position in Richmont Mines by 29.2% in the first quarter. AGF Investments Inc. now owns 375,700 shares of the basic materials company’s stock valued at $2,661,000 after buying an additional 85,000 shares during the period. Finally, Karp Capital Management Corp acquired a new position in Richmont Mines during the first quarter valued at approximately $115,000. Institutional investors own 66.44% of the company’s stock.
Shares of Richmont Mines (ARCA RIC) remained flat at $7.20 on Tuesday. The company had a trading volume of 3,743,219 shares. The stock has a market capitalization of $458.83 million, a PE ratio of 66.67 and a beta of 0.31. The company has a 50-day moving average of $7.28 and a 200-day moving average of $7.44. Richmont Mines has a 12 month low of $5.45 and a 12 month high of $11.66.
Richmont Mines (ARCA:RIC) last issued its quarterly earnings data on Thursday, May 4th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.01. Richmont Mines had a net margin of 5.77% and a return on equity of 4.62%. The company had revenue of $46.50 million during the quarter, compared to the consensus estimate of $45.88 million. The business’s revenue for the quarter was down 11.6% compared to the same quarter last year. Equities analysts anticipate that Richmont Mines will post $0.31 earnings per share for the current fiscal year.
Richmont Mines Company Profile
Richmont Mines Inc is a mining company. The Company is engaged in 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. The Company is engaged in producing gold from the Island Gold Mine in Ontario and the Beaufor Mine in Quebec.
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