Price Action to Note: Time to Buy Richmont Mines Inc. (USA) After Today’s Significant Decline?

Price Action to Note: Time to Buy Richmont Mines Inc. (USA) After Today's Significant Decline?

The stock of Richmont Mines Inc. (USA) (NYSEMKT:RIC) is a huge mover today! About 341,424 shares traded hands. Richmont Mines Inc. (USA) (NYSEMKT:RIC) has risen 52.25% since April 6, 2016 and is uptrending. It has outperformed by 50.29% the S&P500.
The move comes after 8 months negative chart setup for the $466.96M company. It was reported on Nov, 8 by Barchart.com. We have $7.47 PT which if reached, will make NYSEMKT:RIC worth $46.70 million less.

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.”

Insitutional Activity: The institutional sentiment increased to 3.06 in Q2 2016. Its up 1.42, from 1.64 in 2016Q1. The ratio increased, 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.
Agf Invs reported 300,300 shares or 0.03% of all its holdings. Ig Investment Limited holds 0.01% or 332,300 shares in its portfolio. Barclays Public Ltd Company accumulated 114 shares or 0% of the stock. New Harbor Finance Group Incorporated Ltd Com last reported 80,115 shares in the company. Montrusco Bolton Investments Incorporated accumulated 0.63% or 1.07M shares. Addenda Inc accumulated 37,400 shares or 0.03% of the stock. Vanguard Gp has invested 0% of its portfolio in Richmont Mines Inc. (USA) (NYSEMKT:RIC). Bogle Invest Mngmt L P De accumulated 226,354 shares or 0.14% of the stock. Aperio Grp accumulated 0% or 15,784 shares. Highbridge Management Limited Liability owns 61,300 shares or 0.01% of their US portfolio. Spark Investment Mngmt Lc holds 0.57% or 658,900 shares in its portfolio. Moreover, Commonwealth Of Pennsylvania Pub School Empls Retrmt System has 0.01% invested in Richmont Mines Inc. (USA) (NYSEMKT:RIC) for 63,943 shares. Moreover, U S Glob Invsts has 3.02% invested in Richmont Mines Inc. (USA) (NYSEMKT:RIC) for 598,300 shares. Blackrock Institutional Na accumulated 0% or 955 shares. Diam accumulated 2,363 shares or 0% of the stock.

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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