Shares of Richmont Mines Inc. (NYSE:RIC) (TSE:RIC) have been given a consensus rating of “Hold” by the seven brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $12.33.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Richmont Mines from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. TD Securities reissued a “buy” rating and issued a $12.33 price target on shares of Richmont Mines in a research report on Friday, November 24th.

Richmont Mines (NYSE:RIC) remained flat at $$9.65 during trading on Monday. The firm has a market cap of $611.66 and a PE ratio of 35.74. Richmont Mines has a 12-month low of $5.45 and a 12-month 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 (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06. The business had revenue of $36.55 million during the quarter, compared to analysts’ expectations of $36.45 million. Richmont Mines had a net margin of 13.14% and a return on equity of 8.60%. Richmont Mines’s revenue for the quarter was up 52.0% on a year-over-year basis. sell-side analysts forecast that Richmont Mines will post 0.25 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in RIC. Aperio Group LLC lifted its position in Richmont Mines by 8.0% in the second quarter. Aperio Group LLC now owns 17,550 shares of the basic materials company’s stock valued at $137,000 after acquiring an additional 1,294 shares during the last quarter. Gamco Investors INC. ET AL acquired a new position in Richmont Mines in the third quarter valued at $191,000. U S Global Investors Inc. acquired a new position in Richmont Mines in the third quarter valued at $245,000. Canada Pension Plan Investment Board acquired a new position in Richmont Mines in the third quarter valued at $278,000. Finally, Harvest Management LLC acquired a new position in Richmont Mines in the third quarter valued at $280,000. 53.83% of the stock is owned by hedge funds and other institutional investors.

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Richmont Mines Company Profile

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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