After Today’s Huge Increase, Is Richmont Mines Inc.’s Near-Term Analysis Positive?

 After Today's Huge Increase, Is Richmont Mines Inc.'s Near Term Analysis Positive?

The stock of Richmont Mines Inc. (TSE:RIC) is a huge mover today! About 111,239 shares traded hands. Richmont Mines Inc. (TSE:RIC) has risen 85.58% since March 14, 2016 and is uptrending. It has outperformed by 80.04% the S&P500.
The move comes after 7 months positive chart setup for the $741.22 million company. It was reported on Oct, 19 by Barchart.com. We have $20.09 PT which if reached, will make TSE:RIC worth $489.21M more.

Richmont Mines Inc. (TSE:RIC) Ratings Coverage

Out of 8 analysts covering Richmont Mines Inc. (TSE:RIC), 6 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 75% are positive. $16.50 is the highest target while $5.50 is the lowest. The $10.20 average target is -15.70% below today’s ($12.1) stock price. Richmont Mines Inc. has been the topic of 17 analyst reports since September 15, 2015 according to StockzIntelligence Inc. The stock of Richmont Mines Inc. (TSE:RIC) earned “Outperform” rating by National Bank Canada on Friday, November 6. The stock of Richmont Mines Inc. (TSE:RIC) earned “Underperform” rating by BMO Capital Markets on Friday, October 14. Scotia Capital maintained Richmont Mines Inc. (TSE:RIC) rating on Friday, October 14. Scotia Capital has “Sector Perform” rating and $15 price target. The stock of Richmont Mines Inc. (TSE:RIC) has “Sector Perform” rating given on Friday, July 8 by Scotia Capital. The firm earned “Buy” rating on Wednesday, September 21 by TD Securities. The firm earned “Buy” rating on Tuesday, September 15 by Paradigm Research. Mackie initiated the shares of RIC in a report on Tuesday, January 19 with “Buy” rating. The rating was maintained by National Bank Canada with “Outperform” on Thursday, January 14.

Richmont Mines Inc. is a mining company. The company has a market cap of $741.22 million. The Firm is engaged in activities related to the acquisition, exploration, development and operation of mineral properties. It has a 71.92 P/E ratio. The Company’s divisions include Quebec and Ontario.

RIC.TO 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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