BMO Capital Downgrades Richmont Mines (RIC) to Underperform
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BMO Capital downgraded Richmont Mines (NYSE: RIC) from Market Perform to Underperform with a price target of C$14.00 on valuaton.
Analyst Brian Quast commented, "Shares of Richmont have had an impressive run, up ~205% YTD. We are recommending that investors look to take profits at these levels. We are maintaining our C$14 target price, but downgrading our rating to Underperform from Market Perform given the diminished implied return to target price."
Shares of Richmont Mines closed at $10.67 yesterday.
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