Richmont Mines Inc. (RIC) Trading 3.2% Higher

Richmont Mines Inc. (TSE:RIC) (ARCA:RIC)’s share price traded up 3.2% on Friday . The company traded as high as C$12.28 and last traded at C$12.21. 149,220 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 442,081 shares. The stock had previously closed at C$11.83.

A number of equities analysts recently weighed in on the stock. TD Securities cut their price target on shares of Richmont Mines from C$15.50 to C$14.20 and set a “tender” rating on the stock in a report on Tuesday, September 12th. Scotiabank reissued a “tender” rating and issued a C$12.25 price target on shares of Richmont Mines in a report on Tuesday, September 12th. Finally, CIBC cut their price target on shares of Richmont Mines from C$15.50 to C$14.25 in a report on Tuesday, September 12th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of C$13.65.

The firm has a market cap of $777.23 million and a price-to-earnings ratio of 44.49. The company’s 50 day moving average is $11.53 and its 200-day moving average is $10.34.

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

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About Richmont Mines

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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