Stock of The Day: Could Richmont Mines Inc. (USA) Change Direction After Today’s Significant Decline?

Stock of The Day: Could Richmont Mines Inc. (USA) Change Direction After Today's Significant Decline?

The stock of Richmont Mines Inc. (USA) (NYSEMKT:RIC) is a huge mover today! The stock decreased 6.57% or $0.45 on November 30, hitting $6.4. About 399,345 shares traded hands. Richmont Mines Inc. (USA) (NYSEMKT:RIC) has declined 0.87% since April 27, 2016 and is downtrending. It has underperformed by 6.10% the S&P500.
The move comes after 8 months negative chart setup for the $408.01 million company. It was reported on Nov, 30 by Barchart.com. We have $6.21 PT which if reached, will make NYSEMKT:RIC worth $12.24M less.

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 2016 Q2. Its down 1.67, from 3.06 in 2016Q1. The ratio dropped, 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 Group Ltd Liability Corporation last reported 15,784 shares in the company. Mackenzie Fincl Corp owns 1.54 million shares or 0.08% of their US portfolio. Grp One Trading Limited Partnership has 16,203 shares for 0% of their US portfolio. Spark Inv Mgmt Lc holds 0.57% or 658,900 shares in its portfolio. Ladenburg Thalmann Fin Service owns 500 shares or 0% of their US portfolio. Bank Of America Corp De owns 17,690 shares or 0% of their US portfolio. Connor Clark And Lunn Inv has 2.65M shares for 0.18% of their US portfolio. Zpr Inv Mgmt accumulated 879,322 shares or 15.33% of the stock. Manufacturers Life Insur Communications The last reported 1,100 shares in the company. The Japan-based Diam Ltd has invested 0% in Richmont Mines Inc. (USA) (NYSEMKT:RIC). James Invest accumulated 783,590 shares or 0.18% of the stock. Kcg has invested 0.02% of its portfolio in Richmont Mines Inc. (USA) (NYSEMKT:RIC). Toronto Dominion Commercial Bank accumulated 0% or 24,700 shares. Credit Suisse Ag last reported 0% of its portfolio in the stock. Sentry Invs Corporation last reported 0.14% of its portfolio in 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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