Richmont Mines Inc. (RIC.TO) Buy, Sell or Hold

Richmont Mines Inc. (RIC.TO)

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11 watching

PAST TOP PICK

(A Top Pick Sept 8/10. Up 122.2%.) Had a major breakout from a long, long base building. Stock is in a beautiful uptrend. No red flags on this one.

PAST TOP PICK

(Top Pick Sept 8/10, Up 123.60%) Broke above base.

PAST TOP PICK

(A Top Pick May 18/10. Up 87.87%.) Came out of a very big base formation and was in an ascending triangle. Believes that it is going higher so continue to hold.

TOP PICK

Had a big base from 2009 through 2010 followed by a big break this year. Now having a bit of a pull back and is now starting a new up leg.

BUY

Almost 18% of his portfolio. Have about $40 million in cash and zero long-term debt. Bringing mines on line. Bought out 2 partner mines. Good management. Expect it could continue to go a long way.

BUY

One of his absolute favorites. When you have specific information about the company and also the fundamentals are both positive. You are seeing some big production increases. No debt, cash in the bank. Will be another jump in production later this year with a mine in Quebec coming on line.

HOLD

This one can move further. The easy money in gold has been made.

HOLD

Just reported really good earnings and expects they’ll be even better in 3 months because they are completely unhedged and selling gold at higher prices. A new mine is scheduled to come on next July.

TOP PICK

Chart has a neckline and the stock is just breaking through it. Such a huge base that the stock is likely to targeting to $7-$8 or even $9.

BUY

Largest holding in his portfolio. But it is not a contrarian play. Are expanding their resource base. They have no debt. Have 23 Million in cash plus raised some. Loves clean balance sheets. An anomaly in the gold sector.

TOP PICK

Coming out of what tech analysts love. Beautiful inverse head and shoulders pattern. We are just breaking through the neckline. He was early but now is the time to do it. It is a bullish, bullish pattern.

COMMENT

Lots of cash and no debt. They did well in the downturn.

BUY

One of his favorites. It’s in Canada, in Newfoundland and Quebec. Debt free and a good amount of cash. A well managed firm. Their mines are in a good cycle of their production – a sweet spot. They are ramping up production. Thinks gold prices will go up over the next few years.

BUY

Likes gold. Was quite surprised when they reported a loss. Knows management very well and believes in the company.

BUY

Likes gold, but wouldn't bet the farm on it. There has been a problem in the sector because of high demands for labour.

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Richmont Mines Inc. (RIC.TO)