Rio2 (TSE:RIO) Stock Price Down 5.2% – Here’s Why

by · The Cerbat Gem

Rio2 Limited (TSE:RIO – Get Free Report)’s stock price was down 5.2% during trading on Tuesday. The stock traded as low as C$2.89 and last traded at C$2.89. 809,256 shares traded hands during trading, a decline of 45% from the average daily volume of 1,470,225 shares. The stock had previously closed at C$3.05.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus set a C$6.10 target price on shares of Rio2 and gave the stock a “buy” rating in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$5.80.

Check Out Our Latest Research Report on Rio2

Rio2 Stock Performance

The company has a 50-day moving average of C$3.36 and a 200 day moving average of C$3.01. The company has a quick ratio of 1.09, a current ratio of 4.70 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of C$1.59 billion, a PE ratio of 26.27 and a beta of 2.17.

Rio2 (TSE:RIO – Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported C$0.04 earnings per share for the quarter. The business had revenue of C$149.57 million during the quarter. Equities research analysts predict that Rio2 Limited will post -0.03 EPS for the current year.

About Rio2

(Get Free Report)

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.

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