Hillsdale Investment Management buys $13,054,224 stake in Richmont Mines (USA) (RIC)

Richmont Mines (USA) (RIC) : Hillsdale Investment Management scooped up 1,454,400 additional shares in Richmont Mines (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 10, 2016. The investment management firm now holds a total of 1,537,600 shares of Richmont Mines (USA) which is valued at $13,054,224.Richmont Mines (USA) makes up approximately 4.23% of Hillsdale Investment Management’s portfolio.

Other Hedge Funds, Including , Moors Cabot sold out all of its stake in RIC during the most recent quarter. The investment firm sold 13,500 shares of RIC which is valued $114,615.Commonwealth Of Pennsylvania Public School Empls Retrmt Sys boosted its stake in RIC in the latest quarter, The investment management firm added 38,282 additional shares and now holds a total of 63,943 shares of Richmont Mines (USA) which is valued at $542,876. Richmont Mines (USA) makes up approx 0.01% of Commonwealth Of Pennsylvania Public School Empls Retrmt Sys’s portfolio. Wedge Capital Management L L Pnc added RIC to its portfolio by purchasing 56,900 company shares during the most recent quarter which is valued at $444,389.James Investment Research Inc boosted its stake in RIC in the latest quarter, The investment management firm added 258,770 additional shares and now holds a total of 692,460 shares of Richmont Mines (USA) which is valued at $5,387,339. Richmont Mines (USA) makes up approx 0.13% of James Investment Research Inc’s portfolio.

Richmont Mines (USA) opened for trading at $8.56 and hit $8.965 on the upside on Monday, eventually ending the session at $8.73, with a gain of 2.83% or 0.24 points. The heightened volatility saw the trading volume jump to 5,75,717 shares. Company has a market cap of $512 M.

Richmont Mines Inc. (Richmont) is principally engaged in activities related to the acquisition exploration development and operation of mineral properties. The Company operates around three gold mines (the Beaufor and Monique mines in Quebec and the Island Gold Mine in Ontario) and is also engaged in the development of the extension of its Island Gold Mine operations. The Company’s Beaufor Mine property and the W Zone Mine along with other adjacent properties such as Pascalis Perron Colombiere Courvan and Perron Blocks 2 and 3 are located approximately 20 kilometers northeast of the town of Val-d’Or in the Abitibi-East county in the Province of Quebec. The Company’s Monique Mine is located 25 kilometers east of Val-d’Or in the province of Quebec. Richmont’s Island Gold Mine is located approximately 83 kilometers northeast of Wawa Ontario in the Sault Ste. Marie Mining Division.

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