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Casimir Capital reiterated its Richmont Mines
RIC Overweight rating and lowered its company price target from $11 to $8.25 in a research report published today.
In the report, Casimir Capital stated, "We are reducing our price target on Richmont Mines Inc. (RIC) following a substantial decline in estimated resources at the company's Francoeur property in Quebec (see Exhibit 1). RIC also slashed its annual production estimate for Franceour to 20k oz from 30k-35k oz."
Shares of Richmont Mines closed today at $3.97, down 4.11% from Tuesday's market close.
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