Shares of Richmont Mines, Inc. (ARCA:RIC) (TSE:RIC) have been given a consensus rating of “Hold” by the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $15.00.

A number of analysts have commented on the stock. BidaskClub cut shares of Richmont Mines from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Zacks Investment Research cut shares of Richmont Mines from a “hold” rating to a “sell” rating in a research note on Wednesday, July 26th.

Richmont Mines (ARCA:RIC) traded up 1.02% on Friday, hitting $9.90. 329,497 shares of the stock traded hands. Richmont Mines has a 52 week low of $5.45 and a 52 week high of $11.66. The firm’s 50 day moving average is $8.65 and its 200 day moving average is $7.77. The stock has a market cap of $631.22 million, a price-to-earnings ratio of 45.21 and a beta of 0.45.

Richmont Mines (ARCA:RIC) (TSE:RIC) last announced its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The firm had revenue of $59.30 million during the quarter, compared to analyst estimates of $59.30 million. Richmont Mines had a net margin of 9.44% and a return on equity of 8.16%. The company’s quarterly revenue was up 46.1% compared to the same quarter last year. Equities analysts anticipate that Richmont Mines will post $0.30 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp increased its position in Richmont Mines by 24.8% during the first quarter. Van ECK Associates Corp now owns 9,192,948 shares of the basic materials company’s stock worth $65,262,000 after acquiring an additional 1,829,538 shares during the period. Financial & Investment Management Group Ltd. bought a new position in Richmont Mines during the second quarter worth about $4,274,000. OppenheimerFunds Inc. increased its position in Richmont Mines by 27.5% during the first quarter. OppenheimerFunds Inc. now owns 2,027,000 shares of the basic materials company’s stock worth $14,374,000 after acquiring an additional 437,000 shares during the period. Sentry Investments Corp. increased its position in Richmont Mines by 18.9% during the first quarter. Sentry Investments Corp. now owns 2,215,950 shares of the basic materials company’s stock worth $20,896,000 after acquiring an additional 351,550 shares during the period. Finally, FMR LLC increased its position in Richmont Mines by 52.4% during the first quarter. FMR LLC now owns 876,343 shares of the basic materials company’s stock worth $6,214,000 after acquiring an additional 301,143 shares during the period. Institutional investors own 63.96% of the company’s stock.

About Richmont Mines

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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