Hillsdale Investment Management Inc decreased its stake in Richmont Mines Inc (RIC) by 94.41% based on its latest 2016Q3 regulatory filing with the SEC. Hillsdale Investment Management Inc sold 1.40 million shares as the company’s stock rose 5.90% with the market. The institutional investor held 83,000 shares of the basic industries company at the end of 2016Q3, valued at $836,000, down from 1.48 million at the end of the previous reported quarter. Hillsdale Investment Management Inc who had been investing in Richmont Mines Inc for a number of months, seems to be less bullish one the $479.52 million market cap company. The stock is down 2.60% or $0.2 after the negative news, hitting $7.5 per share. About 342,226 shares traded hands. Richmont Mines Inc. (USA) (NYSEMKT:RIC) has declined 7.23% since June 7, 2016 and is downtrending. It has underperformed by 14.65% the S&P500.
Hillsdale Investment Management Inc, which manages about $1.05 billion and $376.89M US Long portfolio, upped its stake in B2gold Corp (NYSEMKT:BTG) by 3.16 million shares to 6.52 million shares, valued at $17.08M in 2016Q3, according to the filing. It also increased its holding in Norbord Inc Com New (NBRXF) by 624,700 shares in the quarter, for a total of 625,500 shares, and has risen its stake in Advantage Oil & Gas Ltd Com (NYSE:AAV).
Hillsdale Investment Management Inc is a Ontario, Canada-based institutional investor with more than $1.05 billion AUM in March, 2014. This fund invests only a small percentage of its assets in equities and options. Taken from Hillsdale Investment Management latest Adv, the fund reported to have 16 full and part-time employees. Among which 6 performing investment advisory and research functions. The institutional investor had between 26-100 clients.
Insitutional Activity: The institutional sentiment decreased to 1.39 in 2016 Q3. Its down 1.67, from 3.06 in 2016Q2. The ratio turned negative, as 15 funds sold all RIC shares owned while 18 reduced positions. 25 funds bought stakes while 21 increased positions. They now own 40.58 million shares or 41.00% less from 68.77 million shares in 2016Q2. Great West Life Assurance Can has invested 0.02% of its portfolio in Richmont Mines Inc. (USA) (NYSEMKT:RIC). Citigroup reported 384 shares or 0% of all its holdings. Renaissance Techs accumulated 3.57M shares or 0.06% of the stock. Tocqueville Asset Management Lp has 0.07% invested in the company for 592,500 shares. Mackenzie Financial has 0.09% invested in the company for 1.50M shares. Creative Planning last reported 1,100 shares in the company. Fruth Mngmt last reported 42,500 shares in the company. Sentry Investments owns 1.23 million shares or 0.14% of their US portfolio. Manufacturers Life The owns 1,500 shares or 0% of their US portfolio. Bogle Mngmt Lp De holds 206,176 shares or 0.15% of its portfolio. Deutsche Savings Bank Ag accumulated 104,809 shares or 0% of the stock. 1832 Asset Mngmt LP holds 2.47M shares or 0.09% of its portfolio. Fmr Limited Com holds 670,200 shares or 0% of its portfolio. The Unknown-based Mckinley Capital Mgmt Ltd Liability Corp Delaware has invested 0% in Richmont Mines Inc. (USA) (NYSEMKT:RIC). Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Inv Mgmt has 363,670 shares for 0.05% of their US portfolio.
Analysts await Richmont Mines Inc. (USA) (NYSEMKT:RIC) to report earnings on February, 27.
Another recent and important Richmont Mines Inc. (USA) (NYSEMKT:RIC) news was published by Finance.Yahoo.com which published an article titled: “Richmont Mines to Transfer Listing of Common Shares to the New York Stock Exchange” on January 10, 2017.
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.”
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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