New Harbor Financial Group Exits Position in Richmont Mines (USA) (RIC)

Richmont Mines (USA) (RIC) : New Harbor Financial Group has sold out all of its stake in Richmont Mines (USA) during the most recent quarter, according to the disclosure filed by the company on Oct 13, 2016 with the SEC. The investment management company has sold out 80,115 shares of Richmont Mines (USA) which is valued at $701,807.

Other Hedge Funds, Including , Msi Financial Services Inc reduced its stake in RIC by selling 4,635 shares or 43.05% in the most recent quarter. The Hedge Fund company now holds 6,131 shares of RIC which is valued at $53,708.Fruth Investment Management reduced its stake in RIC by selling 2,500 shares or 5.56% in the most recent quarter. The Hedge Fund company now holds 42,500 shares of RIC which is valued at $355,725. Richmont Mines (USA) makes up approx 0.18% of Fruth Investment Management’s portfolio. Simplex Trading added RIC to its portfolio by purchasing 1,003 company shares during the most recent quarter which is valued at $8,455. Advisory Services Network added RIC to its portfolio by purchasing 350 company shares during the most recent quarter which is valued at $2,951.

Richmont Mines (USA) closed down -0.15 points or -1.76% at $8.37 with 2,83,635 shares getting traded on Tuesday. Post opening the session at $8.54, the shares hit an intraday low of $8.28 and an intraday high of $8.6 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

Many Wall Street Analysts have commented on Richmont Mines (USA). Richmont Mines (USA) was Downgraded by CIBC to ” Sector Perform” on Aug 9, 2016.

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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