Richmont Mines Inc. (RIC) Given New C$14.20 Price Target at TD Securities

Richmont Mines Inc. (TSE:RIC) (ARCA:RIC) had its price objective trimmed by TD Securities from C$15.50 to C$14.20 in a research note released on Tuesday morning. The firm currently has a tender rating on the stock.

Several other research firms have also commented on RIC. Scotiabank reiterated a tender rating and set a C$12.25 price objective on shares of Richmont Mines in a research note on Tuesday. CIBC reduced their price objective on shares of Richmont Mines from C$15.50 to C$14.25 in a research note on Tuesday. National Bank Financial began coverage on shares of Richmont Mines in a research note on Tuesday, May 23rd. They set an outperform rating and a C$13.50 price objective for the company. BMO Capital Markets reiterated a market perform rating and set a C$12.25 price objective on shares of Richmont Mines in a research note on Tuesday, May 30th. Finally, Cormark upgraded shares of Richmont Mines from a market perform rating to a buy rating and set a C$14.00 price objective for the company in a research note on Thursday, June 1st. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of C$13.65.

Shares of Richmont Mines (RIC) opened at 12.10 on Tuesday. Richmont Mines has a 52-week low of $7.36 and a 52-week high of $15.01. The stock has a market capitalization of $771.50 million and a price-to-earnings ratio of 44.16. The firm’s 50-day moving average is $10.44 and its 200 day moving average is $10.03.

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In other Richmont Mines news, insider Christian Bourcier sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of C$10.53, for a total transaction of C$105,300.00. Also, Director Renaud Adams sold 29,900 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of C$10.00, for a total transaction of C$299,000.00. In the last three months, insiders have sold 40,500 shares of company stock worth $410,150.

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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