Intact Investment Management Inc. purchased a new position in Richmont Mines Inc. (ARCA:RIC) (TSE:RIC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 126,800 shares of the basic materials company’s stock, valued at approximately $1,470,000. Intact Investment Management Inc. owned about 0.20% of Richmont Mines as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Karp Capital Management Corp purchased a new stake in shares of Richmont Mines in the 1st quarter worth approximately $115,000. Spot Trading L.L.C. purchased a new stake in shares of Richmont Mines in the 1st quarter worth approximately $118,000. Aperio Group LLC grew its stake in shares of Richmont Mines by 8.0% in the 2nd quarter. Aperio Group LLC now owns 17,550 shares of the basic materials company’s stock worth $137,000 after buying an additional 1,294 shares during the last quarter. Havens Advisors LLC purchased a new stake in shares of Richmont Mines in the 3rd quarter worth approximately $311,000. Finally, KCG Holdings Inc. grew its stake in shares of Richmont Mines by 40.8% in the 1st quarter. KCG Holdings Inc. now owns 60,358 shares of the basic materials company’s stock worth $429,000 after buying an additional 17,499 shares during the last quarter. Institutional investors own 63.91% of the company’s stock.
Shares of Richmont Mines Inc. (RIC) opened at 8.75 on Wednesday. Richmont Mines Inc. has a 52 week low of $5.45 and a 52 week high of $10.45. The stock has a market capitalization of $557.90 million, a P/E ratio of 38.89 and a beta of 0.41. The firm’s 50-day moving average price is $9.62 and its 200 day moving average price is $8.23.
Richmont Mines (ARCA:RIC) (TSE:RIC) last issued its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The business had revenue of $59.30 million for the quarter, compared to analyst estimates of $59.30 million. Richmont Mines had a return on equity of 8.16% and a net margin of 9.44%. The firm’s revenue was up 46.1% compared to the same quarter last year. Analysts expect that Richmont Mines Inc. will post $0.28 earnings per share for the current year.
Several analysts recently weighed in on RIC shares. Zacks Investment Research upgraded Richmont Mines from a “sell” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Thursday, October 19th. BidaskClub upgraded Richmont Mines from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Richmont Mines currently has an average rating of “Hold” and a consensus price target of $13.00.
About Richmont Mines
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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