Zpr Investment Management Lowers stake in Richmont Mines (USA) (RIC)

Richmont Mines (USA) (RIC) : Zpr Investment Management reduced its stake in Richmont Mines (USA) by 30.31% during the most recent quarter end. The investment management company now holds a total of 1,918,380 shares of Richmont Mines (USA) which is valued at $19,318,087 after selling 834,230 shares in Richmont Mines (USA) , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Richmont Mines (USA) makes up approximately 22.35% of Zpr Investment Management’s portfolio.

Other Hedge Funds, Including , Caisse De Depot Et Placement Du Quebec sold out all of its stake in RIC during the most recent quarter. The investment firm sold 2,730,000 shares of RIC which is valued $27,491,100.Citadel Advisors reduced its stake in RIC by selling 14,258 shares or 46.51% in the most recent quarter. The Hedge Fund company now holds 16,400 shares of RIC which is valued at $165,148. Acrospire Investment Management added RIC to its portfolio by purchasing 421 company shares during the most recent quarter which is valued at $4,437. Cibc Asset Management Inc added RIC to its portfolio by purchasing 27,420 company shares during the most recent quarter which is valued at $294,765.

Richmont Mines (USA) opened for trading at $8.32 and hit $9.125 on the upside on Thursday, eventually ending the session at $9.03, with a gain of 7.63% or 0.64 points. The heightened volatility saw the trading volume jump to 5,43,838 shares. Company has a market cap of $566 M.

Many Wall Street Analysts have commented on Richmont Mines (USA). Richmont Mines (USA) was Downgraded by CIBC to ” Sector Perform” on Aug 9, 2016.

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 Company’s 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-d’Or in the Abitibi-East county in the Province of Quebec. The Company’s Monique Mine is located 25 kilometers east of Val-d’Or in the province of Quebec. Richmont’s Island Gold Mine is located approximately 83 kilometers northeast of Wawa Ontario in the Sault Ste. Marie Mining Division.

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