Rio2 (CVE:RIO) Shares Up 5.8%

Shares of Rio2 Limited (CVE:RIOGet Free Report) shot up 5.8% during trading on Tuesday . The company traded as high as C$0.55 and last traded at C$0.55. 520,877 shares changed hands during trading, an increase of 114% from the average session volume of 243,304 shares. The stock had previously closed at C$0.52.

Wall Street Analysts Forecast Growth

Separately, Raymond James upgraded shares of Rio2 from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from C$0.40 to C$0.60 in a research note on Tuesday, April 23rd.

Read Our Latest Research Report on Rio2

Rio2 Stock Performance

The business has a 50-day simple moving average of C$0.43 and a 200 day simple moving average of C$0.34. The company has a debt-to-equity ratio of 0.64, a current ratio of 7.72 and a quick ratio of 1.10. The firm has a market cap of C$175.23 million, a PE ratio of -13.75 and a beta of 2.34.

Rio2 (CVE:RIOGet Free Report) last released its earnings results on Thursday, March 28th. The company reported C$0.03 earnings per share (EPS) for the quarter. Equities research analysts forecast that Rio2 Limited will post -0.03 EPS for the current year.

Rio2 Company Profile

(Get Free Report)

Rio2 Limited engages in the exploration, development, and mining of mineral properties in Canada, Peru, Bahamas, and Chile. It holds a 100% in the Fenix Gold Project covering an area of approximately 16,050 hectares located in Chile. The company was incorporated in 1990 and is headquartered in Vancouver, Canada.

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