Richmont Mines Inc. (TSE:RIC) Expected to Post FY2017 Earnings of $0.29 Per Share

Richmont Mines Inc. (TSE:RIC) (ARCA:RIC) – Haywood Securities dropped their FY2017 earnings estimates for shares of Richmont Mines in a report released on Wednesday, Zacks Investment Research reports. Haywood Securities analyst K. Smith now expects that the company will post earnings of $0.29 per share for the year, down from their previous estimate of $0.46. Haywood Securities also issued estimates for Richmont Mines’ FY2018 earnings at $0.34 EPS.

Other equities analysts have also issued reports about the stock. CIBC cut their price objective on shares of Richmont Mines from C$15.50 to C$14.25 in a research report on Tuesday, September 12th. TD Securities cut their price objective on shares of Richmont Mines from C$15.50 to C$14.20 and set a “tender” rating for the company in a research report on Tuesday, September 12th. Finally, Scotiabank restated a “tender” rating and issued a C$12.25 price objective on shares of Richmont Mines in a research report on Tuesday, September 12th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Richmont Mines has a consensus rating of “Buy” and a consensus price target of C$13.65.

Richmont Mines (TSE RIC) traded down C$0.53 during mid-day trading on Monday, hitting C$11.72. 625,800 shares of the stock were exchanged, compared to its average volume of 380,924. Richmont Mines has a one year low of C$7.36 and a one year high of C$13.19.

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About Richmont Mines

Richmont Mines Inc, formerly Ressources Minieres Rouyn Inc, is a Canada-based mining company. The Company is engaged in the 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.

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Earnings History and Estimates for Richmont Mines (TSE:RIC)

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