Rio2 (TSE:RIO – Get Free Report) issued its quarterly earnings results on Thursday. The company reported C$0.04 earnings per share for the quarter, FiscalAI reports. The business had revenue of C$149.57 million during the quarter.
Rio2 Stock Down 8.6%
TSE RIO traded down C$0.29 on Thursday, reaching C$3.07. 1,482,167 shares of the stock traded hands, compared to its average volume of 1,472,693. The company has a market cap of C$1.68 billion, a price-to-earnings ratio of 307.00 and a beta of 2.18. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.09 and a current ratio of 2.10. Rio2 has a 12 month low of C$1.56 and a 12 month high of C$4.09. The company has a fifty day moving average price of C$2.76 and a 200-day moving average price of C$2.95.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the company. 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 target on shares of Rio2 and gave the stock an “outperform” rating in a report on Friday, May 29th. Two investment 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.
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.
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