Credit Suisse AG decreased its position in shares of Richmont Mines, Inc. (ARCA:RIC) (TSE:RIC) by 65.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,871 shares of the basic materials company’s stock after selling 70,951 shares during the period. Credit Suisse AG owned approximately 0.06% of Richmont Mines worth $269,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. Karp Capital Management Corp bought a new position in Richmont Mines during the first quarter valued at $115,000. Spot Trading L.L.C. bought a new position in Richmont Mines during the first quarter valued at $118,000. Global X Management Co. LLC increased its position in Richmont Mines by 219.5% during the first quarter. Global X Management Co. LLC now owns 58,632 shares of the basic materials company’s stock valued at $415,000 after acquiring an additional 40,279 shares during the last quarter. KCG Holdings Inc. increased its position in Richmont Mines by 40.8% during the first quarter. KCG Holdings Inc. now owns 60,358 shares of the basic materials company’s stock valued at $429,000 after acquiring an additional 17,499 shares during the last quarter. Finally, Royce & Associates LP increased its position in Richmont Mines by 18.1% during the first quarter. Royce & Associates LP now owns 268,200 shares of the basic materials company’s stock valued at $1,904,000 after acquiring an additional 41,200 shares during the last quarter. Institutional investors and hedge funds own 63.96% of the company’s stock.
Richmont Mines, Inc. (RIC) opened at 9.90 on Friday. The company has a market capitalization of $631.22 million, a PE ratio of 45.21 and a beta of 0.45. Richmont Mines, Inc. has a 12-month low of $5.45 and a 12-month high of $11.66. The stock has a 50 day moving average of $8.65 and a 200-day moving average of $7.77.
Richmont Mines (ARCA:RIC) (TSE:RIC) last posted its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.02). The company had revenue of $59.30 million for the quarter, compared to analysts’ expectations of $59.30 million. Richmont Mines had a return on equity of 8.16% and a net margin of 9.44%. The company’s revenue was up 46.1% on a year-over-year basis. Equities analysts expect that Richmont Mines, Inc. will post $0.30 earnings per share for the current year.
A number of research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Richmont Mines from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. BidaskClub cut shares of Richmont Mines from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $14.00.
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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