The New Van Eck Associates Corp Holding in Richmont Mines Inc
Van Eck Associates Corp filed with the SEC SC 13G/A form for Richmont Mines Inc. The form can be accessed here: 000086917816000223. As reported in Van Eck Associates Corp’s form, the filler as of late owns 14.9% or 9,347,858 shares of the Materials–company.
Richmont Mines Inc stake is a new one for the for this institutional investor and it was filed because of activity on September 16, 2016. We feel this shows Van Eck Associates Corp’s positive view for the stock. For a institutional investor managing $30.53 billion in assets and having 161+ active experts, we at Financialmagazine have no doubt the buy is a bullish signal.
Richmont Mines Inc Institutional Sentiment
Latest Security and Exchange filings show 47 investors own Richmont Mines Inc. The institutional ownership in Q3 2015 is low, at 39.40% of the outstanding shares. This is increased by 1033994 the total institutional shares. 24698150 were the shares owned by these institutional investors. In total 4 funds opened new Richmont Mines Inc stakes, 20 increased stakes. There were 6 that closed positions and 12 reduced them.
U S Global Investors Inc is an institutional investor bullish on Richmont Mines Inc, owning 1150000 shares as of Q3 2015 for 1.68% of its portfolio. New Harbor Financial Group Llc owns 65280 shares or 0.23% of its portfolio. FL Zpr Investment Management have 8.51% of their stock portfolio for 2524360 shares. Further, Mason Hill Advisors Llc reported stake worth 0.41% of its US stock portfolio. The OH James Investment Research Inc owns 305415 shares. Richmont Mines Inc is 0.02% of the manager’s US portfolio.
Richmont Mines Inc. is a mining company. The Company is engaged in activities related to the acquisition, exploration, development and operation of mineral properties. Its segments include Quebec and Ontario. It has two divisions: Ontario Division and Quebec Division. Its Island Gold Mine is located approximately 80 kilometers northeast of Wawa, Ontario in the Sault Ste. Marie Mining Division. Dubreuilville, Ontario is approximately 10 kilometers northwest of the Island Gold Mine. The Island Gold property is divided into approximately nine parts, which consists of over 220 patented, leased and staked claims. Its Beaufor Mine property 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. Its approximately 1,200 tons per day (tpd) Camflo mill is located over 50 kilometers from Beaufor Mine property.
SEC Form 13G is required when the filer owns between (5% and 20%) of a company and plans to hold it only as a passive investor. In case the filler intend to exert control and the stake’s exceeds 20%, then 13D Form must be filed. These filings can NOT be a precursor to “change of control” events such as hostile takeovers, company breakups or others.
Van Eck Associates Corp website.
Insitutional Activity: The institutional sentiment increased to 3.06 in 2016 Q2. Its up 1.42, from 1.64 in 2016Q1. The ratio improved, as 9 funds sold all Richmont Mines Inc. (USA) shares owned while 9 reduced positions. 28 funds bought stakes while 27 increased positions. They now own 68.77 million shares or 161.52% more from 26.30 million shares in 2016Q1.
Aperio Grp Incorporated Limited Liability has invested 0% of its portfolio in Richmont Mines Inc. (USA) (NYSEMKT:RIC). Alps Advsr Inc accumulated 0.04% or 499,327 shares. Credit Suisse Ag holds 24,391 shares or 0% of its portfolio. Spark Investment Management Lc holds 0.57% of its portfolio in Richmont Mines Inc. (USA) (NYSEMKT:RIC) for 658,900 shares. Blackrock Institutional Na holds 0% of its portfolio in Richmont Mines Inc. (USA) (NYSEMKT:RIC) for 955 shares. Wells Fargo & Company Mn has 0% invested in the company for 4,210 shares. James Research, a Ohio-based fund reported 783,590 shares. Greystone Managed Investments Inc has invested 0.28% of its portfolio in Richmont Mines Inc. (USA) (NYSEMKT:RIC). Shell Asset Mngmt Com accumulated 1,500 shares or 0% of the stock. Eam Ltd Llc has invested 0.36% of its portfolio in Richmont Mines Inc. (USA) (NYSEMKT:RIC). Ubs Asset Mngmt Americas has invested 0% of its portfolio in Richmont Mines Inc. (USA) (NYSEMKT:RIC). Connor Clark & Lunn Investment Management Limited has 2.65 million shares for 0.18% of their US portfolio. Morgan Stanley has invested 0% of its portfolio in Richmont Mines Inc. (USA) (NYSEMKT:RIC). Sprott Inc last reported 0.95% of its portfolio in the stock. Highbridge Capital Mgmt Ltd Com owns 61,300 shares or 0.01% of their US portfolio.
Analysts await Richmont Mines Inc. (USA) (NYSEMKT:RIC) to report earnings on November, 3.
About 225,775 shares traded hands. Richmont Mines Inc. (USA) (NYSEMKT:RIC) has risen 65.54% since March 4, 2016 and is uptrending. It has outperformed by 57.51% the S&P500.
Richmont Mines Inc. is a mining company. The company has a market cap of $472.25 million. The Firm is engaged in activities related to the acquisition, exploration, development and operation of mineral properties. It has a 65.42 P/E ratio. The Company’s divisions include Quebec and Ontario.
According to Zacks Investment Research, “Richmont Mines, Inc. is a gold mining company. It has operations in Quebec, Ontario and Newfoundland and holds interests in the Francoeur Mine, Beaufor Mine and Camflo Mill in Quebec, and the Island Gold Mine in Ontario. Richmont Mines, Inc., formerly known as Ressources Minieres Rouyn Inc., is headquartered in Rouyn-Noranda, Canada.”
RIC Company Profile
Richmont Mines Inc. (Richmont), incorporated on February 12, 1981, is a mining company. The Firm is engaged in activities related to the acquisition, exploration, development and operation of mineral properties. The Company’s divisions include Quebec and Ontario. The Firm has two divisions: Ontario Division and Quebec Division. Richmont operates two gold mines: the Island Gold Mine in Ontario and the Beaufor Mine in Quebec. The Firm produces gold from these mines. The Firm is also advancing development of the mineralized extension at depth of the Island Gold Mine in Ontario.
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