Rio2 (TSE:RIO) Announces Quarterly Earnings Results

Rio2 (TSE:RIO) announced its quarterly earnings results on Thursday. The company reported C$0.04 earnings per share for the quarter, FiscalAI reports. The company had revenue of C$149.57 million during the quarter.

Rio2 Price Performance

Shares of TSE:RIO traded up C$0.01 during trading on Friday, hitting C$3.05. 850,469 shares of the stock were exchanged, compared to its average volume of 1,474,048. The company has a current ratio of 2.10, a quick ratio of 1.09 and a debt-to-equity ratio of 0.19. Rio2 has a 12-month low of C$1.56 and a 12-month high of C$4.09. The company has a market cap of C$1.67 billion, a PE ratio of 305.00 and a beta of 2.18. The company has a fifty day moving average price of C$2.76 and a two-hundred day moving average price of C$2.95.

Analyst Ratings Changes

A number of research firms have recently issued reports on RIO. Stifel Nicolaus set a C$6.10 price objective on Rio2 and gave the company a “buy” rating in a research report on Thursday, July 30th. National Bank Financial set a C$5.50 price objective on Rio2 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$5.80.

About Rio2

Rio2 is a diversified precious metals and copper producer focused on building and operating mines with a management team that has proven technical skills as well as a successful capital markets track record. The Company is currently producing gold at its Fenix Gold heap leach mine in Chile and copper/gold/silver at its recently acquired Condestable underground mine in Peru. Rio2 and its wholly owned subsidiaries, Fenix Gold Limitada and Compañía Minera Condestable SA, are companies that operate with the highest environmental standards and responsibility with the firm conviction that it is possible to develop mining projects that respect the three pillars (Social, Environment, Economics) of responsible development.