Live Stock Coverage: After Today’s Significant Increase, Is Richmont Mines Inc. (USA)’s Near-Term Analysis Positive?

Live Stock Coverage: After Today's Significant Increase, Is Richmont Mines Inc. (USA)'s Near Term Analysis Positive?

The stock of Richmont Mines Inc. (USA) (NYSEMKT:RIC) is a huge mover today! The stock last traded at $6.45 per share. It is down 6.11% since April 22, 2016 and is downtrending. It has underperformed by 11.52% the S&P500.
The move comes after 7 months positive chart setup for the $382.45 million company. It was reported on Nov, 25 by Barchart.com. We have $6.97 PT which if reached, will make NYSEMKT:RIC worth $30.60M more.

Analysts await Richmont Mines Inc. (USA) (NYSEMKT:RIC) to report earnings on February, 27.

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 decreased to 1.39 in Q2 2016. Its down 1.67, from 3.06 in 2016Q1. The ratio worsened, 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.
Sprott last reported 2.00 million shares in the company. Agf Investments reported 300,300 shares or 0.03% of all its holdings. Bank & Trust Of America De holds 17,690 shares or 0% of its portfolio. Renaissance Tech Ltd Limited Liability Company holds 0.06% or 3.40 million shares in its portfolio. Zpr Inv Management holds 15.33% of its portfolio in Richmont Mines Inc. (USA) (NYSEMKT:RIC) for 879,322 shares. Mason Hill Limited Liability last reported 151,775 shares in the company. Bogle Inv Mgmt L P De accumulated 0.14% or 226,354 shares. Moreover, Ig Investment Limited has 0.01% invested in Richmont Mines Inc. (USA) (NYSEMKT:RIC) for 332,300 shares. The Saskatchewan – Canada-based Greystone Managed Invs Inc has invested 0.28% in Richmont Mines Inc. (USA) (NYSEMKT:RIC). U S Invsts accumulated 3.02% or 598,300 shares. Wells Fargo And Com Mn has 0% invested in the company for 4,210 shares. Td Asset Mgmt owns 498,782 shares or 0.01% of their US portfolio. The New York-based Van Eck has invested 0.05% in Richmont Mines Inc. (USA) (NYSEMKT:RIC). Fmr Ltd Liability Com last reported 0% of its portfolio in the stock. Moreover, Sentry Invests has 0.14% invested in Richmont Mines Inc. (USA) (NYSEMKT:RIC) for 1.23M shares.

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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