Rio2 (TSE:RIO) Shares Up 1.1% – Should You Buy?

Rio2 Limited (TSE:RIO) shares shot up 1.1% during mid-day trading on Tuesday . The stock 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 daily volume of 1,435,898 shares. The stock had previously closed at C$3.56.

Analysts Set New Price Targets

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

Rio2 Stock Up 1.1%

The firm’s 50-day simple moving average is C$3.04 and its 200 day simple moving average is C$2.95. The company has a market cap of C$1.98 billion, a P/E ratio of 32.73 and a beta of 2.29. 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 (TSE:RIO) last posted its quarterly earnings results on Thursday, August 13th. The company reported C$0.04 earnings per share (EPS) for the quarter. The company had revenue of C$149.57 million during the quarter. On average, research analysts forecast that Rio2 Limited will post -0.03 earnings per share for the current fiscal year.

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.