Greystone Managed Investments Inc. Purchases Shares of 617,120 Richmont Mines, Inc. (RIC)
Greystone Managed Investments Inc. purchased a new position in shares of Richmont Mines, Inc. (NYSE:RIC) (TSE:RIC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 617,120 shares of the basic materials company’s stock, valued at approximately $5,739,000. Greystone Managed Investments Inc. owned 0.97% of Richmont Mines at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in RIC. Spot Trading L.L.C. purchased a new stake in Richmont Mines during the 1st quarter worth $118,000. Aperio Group LLC increased its stake in Richmont Mines by 8.0% during the 2nd quarter. Aperio Group LLC now owns 17,550 shares of the basic materials company’s stock worth $137,000 after buying an additional 1,294 shares during the period. Gamco Investors INC. ET AL purchased a new stake in Richmont Mines during the 3rd quarter worth $191,000. Canada Pension Plan Investment Board purchased a new stake in Richmont Mines during the 3rd quarter worth $278,000. Finally, Harvest Management LLC purchased a new stake in Richmont Mines during the 3rd quarter worth $280,000. 53.83% of the stock is currently owned by hedge funds and other institutional investors.
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Separately, Zacks Investment Research raised shares of Richmont Mines from a “sell” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $11.00.
Shares of Richmont Mines, Inc. (RIC) remained flat at $$8.85 during mid-day trading on Tuesday. The company’s stock had a trading volume of 158,400 shares, compared to its average volume of 465,581. The company has a market capitalization of $564.79, a price-to-earnings ratio of 34.04 and a beta of 0.31. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.86 and a current ratio of 3.09. Richmont Mines, Inc. has a 12 month low of $5.45 and a 12 month high of $10.45.
Richmont Mines (NYSE:RIC) (TSE:RIC) last announced its quarterly earnings data on Wednesday, November 8th. The basic materials company reported $0.06 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06. The company had revenue of $36.55 million during the quarter, compared to analyst estimates of $36.45 million. Richmont Mines had a net margin of 9.63% and a return on equity of 10.07%. The firm’s quarterly revenue was up 52.0% on a year-over-year basis. sell-side analysts anticipate that Richmont Mines, Inc. will post 0.25 EPS for the current year.
Richmont Mines 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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