Rio2 Limited (TSE:RIO – Get Free Report)’s stock price dropped 5.2% during trading on Tuesday. The stock traded as low as C$2.89 and last traded at C$2.89. Approximately 809,256 shares changed 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.
Wall Street Analysts Forecast Growth
Separately, Stifel Nicolaus set a C$6.10 price target on Rio2 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$5.80.
Check Out Our Latest Research Report on RIO
Rio2 Trading Down 10.7%
The company has a market cap of C$1.46 billion, a price-to-earnings ratio of 24.18 and a beta of 2.17. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.70 and a quick ratio of 1.09. The firm’s fifty day moving average price is C$3.35 and its 200-day moving average price is C$3.01.
Rio2 (TSE:RIO – Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported C$0.04 earnings per share for the quarter. The firm had revenue of C$149.57 million during the quarter. On average, equities analysts expect that Rio2 Limited will post -0.03 EPS 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.
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