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Richmont Mines, Inc. (RIC) [hlAlert]

Mkt Outperform
down 66.75 %

Richmont Mines, Inc. (RIC) rated Mkt Outperform with price target $10 by Rodman & Renshaw

Posted on: Tuesday,  Jul 12, 2011  8:25 AM ET by Rodman & Renshaw

Rodman & Renshaw rated Mkt Outperform Richmont Mines, Inc. (AMEX: RIC) on 07/12/2011, when the stock price was $7.46.
Since then, Richmont Mines, Inc. has lost 66.76% as of 08/27/2015's recent price of $2.48.
If you would have followed this Rodman & Renshaw's recommendation on RIC, you would have lost 66.75% of your investment in 1507 days.

Richmont Mines Inc. (Richmont Mines) is engaged in the acquisition, exploration, operation, financing, and development of mineral properties. The Company produces gold from its Beaufor and Island Gold mines, its material properties. On December 16 2008, Richmont Mines acquired Patricia Mining Corp (Patricia Mining) by way of plan of arrangement. As a result of the arrangement, Richmont Mines owns a 100% interest in the Island Gold Mine, which had been the subject of a joint venture between Richmont Mines and Patricia Mining and has been in commercial production since October 1, 2007. Richmont Mines holds 80% of the Camflo Northwest property located in the Malartic Gold Camp, adjacent to the Camflo Mill. On February 5, 2009, Mountain Lake Resources inc. (Mountain Lake) and Richmont Mines entered into an agreement (the Valentine Lake Agreement), pursuant to which the Company granted Mountain Lake the option to purchase Richmont Mines?s 70% interest in the property.

Rodman & Renshaw is a full-service investment bank dedicated to providing investment banking services to companies that have significant recurring capital needs due to their growth and development strategies. We also provide research and sales and trading services to institutional investor clients that focus on such companies. Since 2003, Rodman has been a leading investment banking firm to the biotechnology sector, a capital intensive market segment, as well as a leader in the PIPE (private investment in public equity) and RD (registered direct placements) transaction markets.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
7/12/2011 8:25 AM Buy
7.46 10.00
as of 12/30/2011
1 Week down  -0.92 %
1 Month down  -9.88 %
3 Months up  1.79 %
1 YTD up  44.23 %

(*) Stock Price at the time of the recommendation.
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