Rio2 (TSE:RIO) Releases Earnings Results

Rio2 (TSE:RIO) released its earnings results on Tuesday. The company reported C$0.06 earnings per share for the quarter, FiscalAI reports. The firm had revenue of C$164.26 million for the quarter.

Rio2 Trading Up 0.7%

Shares of RIO stock opened at C$2.79 on Wednesday. Rio2 has a 12-month low of C$2.10 and a 12-month high of C$4.09. The company has a current ratio of 4.70, a quick ratio of 1.09 and a debt-to-equity ratio of 0.23. The stock’s 50-day moving average price is C$3.15 and its 200-day moving average price is C$3.03. The stock has a market capitalization of C$1.53 billion, a price-to-earnings ratio of 25.36 and a beta of 1.85.

Analyst Upgrades and Downgrades

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

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 S.A., 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.