TD Securities Lowers Richmont Mines Inc. (RIC) Price Target to C$14.20
Richmont Mines Inc. (TSE:RIC) (ARCA:RIC) had its target price dropped by equities researchers at TD Securities from C$15.50 to C$14.20 in a research note issued on Tuesday. The brokerage presently has a “tender” rating on the stock. TD Securities’ price target points to a potential upside of 14.52% from the company’s previous close.
RIC has been the topic of several other research reports. National Bank Financial began coverage on shares of Richmont Mines in a report on Tuesday, May 23rd. They issued an “outperform” rating and a C$13.50 target price on the stock. Cormark upgraded shares of Richmont Mines from a “market perform” rating to a “buy” rating and set a C$14.00 price objective for the company in a research note on Thursday, June 1st. BMO Capital Markets reiterated a “market perform” rating and issued a C$12.25 price objective on shares of Richmont Mines in a research note on Tuesday, May 30th. CIBC reduced their price objective on shares of Richmont Mines from C$15.50 to C$14.25 in a research note on Tuesday. Finally, Scotiabank reiterated a “tender” rating and issued a C$12.25 price objective on shares of Richmont Mines in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. Richmont Mines currently has a consensus rating of “Buy” and an average price target of C$13.65.
Richmont Mines (TSE:RIC) opened at 12.40 on Tuesday. The firm has a market cap of $790.62 million and a P/E ratio of 45.26. Richmont Mines has a 52-week low of $7.36 and a 52-week high of $15.01. The company’s 50 day moving average is $10.56 and its 200 day moving average is $10.06.
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In related news, insider Christian Bourcier sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of C$10.53, for a total value of C$105,300.00. Also, Director Renaud Adams acquired 5,000 shares of Richmont Mines stock in a transaction that occurred on Wednesday, August 16th. The stock was bought at an average price of C$9.69 per share, with a total value of C$48,450.00. Insiders sold 40,500 shares of company stock valued at $410,150 in the last quarter.
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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