Trading Report: Today, Richmont Mines Inc. (RIC) Given Average Recommendation of “Buy” from Analysts

Today, Richmont Mines Inc. (RIC) Given Average Recommendation of “Buy” from Analysts

Shares of Richmont Mines Inc. (TSE:RIC) (ARCA:RIC) have received a consensus rating of “Buy” from the ten ratings firms that are currently covering the stock. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is C$12.56.

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets restated an “underperform” rating on shares of Richmont Mines in a research note on Thursday, September 29th. TD Securities cut their target price on shares of Richmont Mines from C$16.50 to C$15.00 and set a “buy” rating on the stock in a research note on Friday, November 11th. Scotiabank restated a “sector perform” rating and issued a C$15.00 target price on shares of Richmont Mines in a research note on Friday, November 11th. Canaccord Genuity upped their target price on shares of Richmont Mines from C$15.50 to C$17.00 and gave the company a “buy” rating in a research note on Monday, August 8th. Finally, CIBC upped their target price on shares of Richmont Mines from C$13.00 to C$14.50 and gave the company a “sector perform” rating in a research note on Tuesday, August 9th.

Shares of Richmont Mines (TSE:RIC) traded down 3.94% during midday trading on Friday, reaching $8.54. The company’s stock had a trading volume of 117,454 shares. The stock has a 50 day moving average of $11.08 and a 200-day moving average of $11.90. The company has a market capitalization of $537.71 million and a P/E ratio of 72.99. Richmont Mines has a 1-year low of $3.88 and a 1-year high of $15.01.

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