Richmont Mines, Inc. (NYSE:RIC) (TSE:RIC) – Research analysts at Haywood Securities decreased their FY2017 earnings estimates for shares of Richmont Mines in a research report issued on Wednesday. Haywood Securities analyst K. Smith now anticipates that the basic materials company will post earnings of $0.23 per share for the year, down from their previous forecast of $0.37. Haywood Securities also issued estimates for Richmont Mines’ FY2018 earnings at $0.27 EPS.
Separately, Zacks Investment Research lowered shares of Richmont Mines from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $11.00.
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Richmont Mines (NYSE:RIC) (TSE:RIC) last announced its earnings results on Wednesday, November 8th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. Richmont Mines had a net margin of 9.63% and a return on equity of 10.07%. The business had revenue of $36.55 million during the quarter, compared to analyst estimates of $36.45 million. Richmont Mines’s revenue was up 52.0% on a year-over-year basis.
Hedge funds have recently bought and sold shares of the business. Spot Trading L.L.C. purchased a new position in shares of Richmont Mines during the first quarter worth approximately $118,000. Aperio Group LLC raised its stake in shares of Richmont Mines by 8.0% during the second quarter. Aperio Group LLC now owns 17,550 shares of the basic materials company’s stock worth $137,000 after acquiring an additional 1,294 shares in the last quarter. Gamco Investors INC. ET AL purchased a new position in shares of Richmont Mines during the third quarter worth approximately $191,000. U S Global Investors Inc. purchased a new position in shares of Richmont Mines during the third quarter worth approximately $245,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Richmont Mines during the third quarter worth approximately $278,000. 53.83% of the stock is currently owned by hedge funds and other institutional investors.
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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