AGF Investments Inc. purchased a new stake in Richmont Mines Inc. (NYSE:RIC) (TSE:RIC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 374,000 shares of the basic materials company’s stock, valued at approximately $3,486,000. AGF Investments Inc. owned 0.59% of Richmont Mines as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of RIC. Spot Trading L.L.C. acquired a new position in Richmont Mines in the first quarter valued at approximately $118,000. Morgan Stanley lifted its stake in Richmont Mines by 33.9% in the first quarter. Morgan Stanley now owns 438,422 shares of the basic materials company’s stock valued at $3,113,000 after buying an additional 110,899 shares during the period. Aperio Group LLC lifted its stake 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 buying an additional 1,294 shares during the period. Montrusco Bolton Investments Inc. acquired a new position in Richmont Mines in the third quarter valued at approximately $26,998,000. Finally, Havens Advisors LLC acquired a new position in Richmont Mines in the third quarter valued at approximately $311,000. 53.83% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently commented on RIC shares. Zacks Investment Research upgraded Richmont Mines from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. TD Securities restated a “buy” rating and set a $12.33 price objective on shares of Richmont Mines in a report on Friday, November 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $11.67.

Richmont Mines Inc. (NYSE:RIC) traded up $0.25 during midday trading on Wednesday, hitting $9.60. The stock had a trading volume of 868,200 shares, compared to its average volume of 466,921. The company has a market capitalization of $611.92, a P/E ratio of 36.92 and a beta of 0.24. Richmont Mines Inc. has a 52-week low of $5.45 and a 52-week high of $10.45. 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 (NYSE:RIC) (TSE:RIC) last released its quarterly earnings data on Wednesday, November 8th. The basic materials company reported $0.06 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. The firm had revenue of $36.55 million during the quarter, compared to the consensus estimate of $36.45 million. Richmont Mines had a return on equity of 8.60% and a net margin of 13.14%. The company’s quarterly revenue was up 52.0% on a year-over-year basis. equities analysts expect that Richmont Mines Inc. will post 0.25 EPS for the current year.

TRADEMARK VIOLATION NOTICE: This article was originally posted by Daily Political and is the property of of Daily Political. If you are reading this article on another domain, it was stolen and republished in violation of United States and international copyright and trademark law. The original version of this article can be read at https://www.dailypolitical.com/2017/11/29/agf-investments-inc-purchases-shares-of-374000-richmont-mines-inc-ric.html.

About Richmont Mines

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.

Institutional Ownership by Quarter for Richmont Mines (NYSE:RIC)

Receive News & Ratings for Richmont Mines Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Richmont Mines Inc. and related companies with MarketBeat.com's FREE daily email newsletter.