Richmont Mines Inc. (RIC) PT Lowered to C$14.20

Richmont Mines Inc. (TSE:RIC) (ARCA:RIC) had its price target decreased by TD Securities from C$15.50 to C$14.20 in a research report issued on Tuesday, September 12th. The brokerage currently has a “tender” rating on the stock. TD Securities’ target price would indicate a potential upside of 16.30% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Scotiabank reiterated a “sector perform” rating and set a C$12.50 target price on shares of Richmont Mines in a research report on Friday, May 19th. National Bank Financial reiterated an “outperform market weight” rating on shares of Richmont Mines in a research report on Monday, May 22nd. BMO Capital Markets reissued a “market perform” rating and set a C$12.25 price objective on shares of Richmont Mines in a report on Tuesday, May 30th. CIBC decreased their price objective on shares of Richmont Mines from C$15.50 to C$14.25 in a report on Tuesday, September 12th. Finally, Cormark raised shares of Richmont Mines from a “market perform” rating to a “buy” rating and set a C$14.00 price objective on the stock in a report on Thursday, June 1st. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of C$13.65.

Richmont Mines (TSE:RIC) opened at 12.21 on Tuesday. The firm’s 50-day moving average is $10.80 and its 200-day moving average is $10.13. Richmont Mines has a 1-year low of $7.36 and a 1-year high of $15.01. The firm has a market capitalization of $778.51 million and a price-to-earnings ratio of 44.56.

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In related news, Director Renaud Adams acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were purchased at an average price of C$9.69 per share, with a total value of C$48,450.00. In the last three months, insiders have sold 30,500 shares of company stock worth $304,850.

Richmont Mines Company 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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