Richmont Mines (RIC) Receives Analyst Rating

Richmont Mines (RIC) : The consensus on Richmont Mines (RIC) based on 4 analyst recommendation on the company stock is 2.75, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 4 which endorses a Sell on the stock. However, 1 analyst believes that the stock is a Buy, which can produce decent returns in the future. 3 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

Richmont Mines (RIC) : 3 Wall Street analysts covering Richmont Mines (RIC) believe that the average level the stock could reach for the short term is $9.29. The maximum price target given is $13 and the minimum target for short term is around $5, hence the standard deviation is calculated at $3.82.


Also, In the latest statement by the brokerage house, CIBC downgrades its outlook on Richmont Mines (NYSEMKT:RIC). The current rating of the shares is Sector Performer, according to the research report released by the firm. Previously, the company had a rating of Outperform. The rating by the firm was issued on August 9, 2016.

Richmont Mines (NYSEMKT:RIC): The stock opened in the green at $9.55 on Thursday, but the bulls found it difficult to push the prices higher. The stock reached a high of $9.765 and a low of $9.41 for the day. The stock did not find buyers even at the lows and closed at $9.41 recording a loss of -1.47%. 533,529 shares exchanged hands during the trading day. The stock had closed at $9.55 in the previous days trading.

Richmont Mines Inc. (Richmont) is principally engaged in activities related to the acquisition, exploration, development and operation of mineral properties. The Company operates around three gold mines (the Beaufor and Monique mines in Quebec and the Island Gold Mine in Ontario) and is also engaged in the development of the extension of its Island Gold Mine operations. The Companys Beaufor Mine property and the W Zone Mine, along with other adjacent properties, such as Pascalis, Perron, Colombiere, Courvan and Perron Blocks 2 and 3, are located approximately 20 kilometers northeast of the town of Val-dOr in the Abitibi-East county, in the Province of Quebec. The Companys Monique Mine is located 25 kilometers east of Val-dOr, in the province of Quebec. Richmonts Island Gold Mine is located approximately 83 kilometers northeast of Wawa, Ontario in the Sault Ste. Marie Mining Division.

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