Rio2 (TSE:RIO) Trading Up 1.1% – Here’s What Happened

Rio2 Limited (TSE:RIO) shot up 1.1% during mid-day trading on Tuesday . The company traded as high as C$3.68 and last traded at C$3.60. 1,753,048 shares traded hands during trading, an increase of 22% from the average session volume of 1,435,898 shares. The stock had previously closed at C$3.56.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on RIO shares. National Bank Financial set a C$5.50 target price on shares of Rio2 and gave the company an “outperform” rating in a research note on Friday, May 29th. Stifel Nicolaus set a C$6.10 price target on shares of Rio2 and gave the company a “buy” rating in a report on Thursday, July 30th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, Rio2 presently has an average rating of “Buy” and a consensus price target of C$5.80.

Rio2 Stock Up 1.1%

The company has a market capitalization of C$1.98 billion, a P/E ratio of 32.73 and a beta of 2.29. The company has a quick ratio of 1.09, a current ratio of 2.10 and a debt-to-equity ratio of 0.19. The firm has a fifty day simple moving average of C$3.04 and a 200-day simple moving average of C$2.95.

Rio2 (TSE:RIO) last issued its quarterly earnings data on Thursday, August 13th. The company reported C$0.04 earnings per share (EPS) for the quarter. The business had revenue of C$149.57 million during the quarter. On average, equities research analysts expect that Rio2 Limited will post -0.03 EPS for the current fiscal year.

Rio2 Company Profile

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.