7. Richmont Mines (RIC) engages in the acquisition, exploration, operation, financing and development of mineral properties. The company currently produces gold from its Island Gold and Beaufor mines, and expects to launch production at its Francoeur Mine by mid-2011, augmenting total annual production to 100,000 ounces of gold. The company will report its first quarter 2011 results on May 13.
Globex Mining recently announced an option agreement with Richmont Mines, under which Richmont can earn 100% interest in five of Globex's claims adjoining its Wasamac property in Beauchastel Township. Richmont has agreed to the following option terms and conditions; upon signing, $500,000 in cash and $1 million in exploration over an 18-month period; an additional $500,000 in cash and $1 million in exploration expenses within the following 18 months; at 36 months, an additional $2 million in cash and the issuance of 500,000 Richmont shares to Globexafter; and an additional $1 million as exploration expenses within the following 18 months.
Of the four analysts covering the stock, 75% recommend a buy, while the remaining rate a hold. The stock has no sell ratings. On average, analysts foresee 22.8% upside to $9.97 from current levels. The stock has gained 91% in the last one year.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV