Richmont Mines Inc. (NYSE:RIC) (TSE:RIC) – Analysts at Haywood Securities dropped their FY2017 earnings per share (EPS) estimates for Richmont Mines in a research note issued to investors on Wednesday, according to Zacks Investment Research. Haywood Securities analyst K. Smith now expects 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.
RIC has been the topic of several other reports. Zacks Investment Research downgraded Richmont Mines from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. TD Securities reaffirmed a “buy” rating and set a $12.33 price target on shares of Richmont Mines in a research report on Friday, November 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Richmont Mines has a consensus rating of “Hold” and an average price target of $11.67.
Shares of Richmont Mines (NYSE RIC) traded up $0.25 on Monday, reaching $9.60. The company’s stock had a trading volume of 868,200 shares, compared to its average volume of 466,921. The firm has a market cap of $619.27 and a P/E ratio of 36.92. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.09 and a quick ratio of 2.86. Richmont Mines has a 12 month low of $5.45 and a 12 month high of $10.45.
Richmont Mines (NYSE:RIC) (TSE:RIC) last announced its quarterly earnings results on Wednesday, November 8th. The basic materials company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. The company had revenue of $36.55 million for the quarter, compared to the consensus estimate of $36.45 million. Richmont Mines had a return on equity of 8.60% and a net margin of 13.14%. Richmont Mines’s quarterly revenue was up 52.0% compared to the same quarter last year.
Several large investors have recently bought and sold shares of RIC. Van ECK Associates Corp acquired a new stake in shares of Richmont Mines during the 3rd quarter valued at about $38,228,000. Montrusco Bolton Investments Inc. acquired a new stake in shares of Richmont Mines during the 3rd quarter valued at about $26,998,000. Magnetar Financial LLC acquired a new stake in shares of Richmont Mines during the 3rd quarter valued at about $15,896,000. Mackenzie Financial Corp acquired a new stake in shares of Richmont Mines during the 3rd quarter valued at about $10,431,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Richmont Mines during the 3rd quarter valued at about $8,743,000. Hedge funds and other institutional investors own 53.83% of the company’s stock.
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About Richmont Mines
Richmont Mines Inc, formerly Ressources Minieres Rouyn Inc, is a Canada-based mining company. The Company is engaged in the 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.
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