Brokerage Firm Rating Update on Richmont Mines (RIC)

Richmont Mines (RIC) has an average broker rating of 2.75, which is interpreted as a Hold, as rated by 4 equity analysts. 1 other analysts advise a Buy. Nevertheless, the majority of 3 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold.

Richmont Mines (RIC) : The highest level Richmont Mines (RIC) is projected to reach is $13 for the short term and the lowest estimate is at $5. The consolidated price target from 3 rating analysts who initiate coverage on the stock is $9.29 and the possibility the share price can swing is $3.82.


For the current week, the company shares have a recommendation consensus of Buy. Also, Equity Analysts at the Brokerage Firm, CIBC, downgrades their rating on the shares of Richmont Mines (NYSEMKT:RIC). CIBC has a Sector Performer rating on the shares. Previously, the analysts had a Outperform rating on the shares. The rating by the firm was issued on August 9, 2016.

Richmont Mines (NYSEMKT:RIC): The stock opened at $10.66 and touched an intraday high of $10.94 on Wednesday. During the day, the stock corrected to an intraday low of $10.56, however, the bulls stepped in and pushed the price higher to close in the green at $10.91 with a gain of 1.68% for the day. The total traded volume for the day was 577,926. The stock had closed at $10.73 in the previous trading session.

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 Companys 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-dOr in the Abitibi-East county, in the Province of Quebec. The Companys Monique Mine is located 25 kilometers east of Val-dOr, in the province of Quebec. Richmonts Island Gold Mine is located approximately 83 kilometers northeast of Wawa, Ontario in the Sault Ste. Marie Mining Division.

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