Rio2 (TSE:RIO) Shares Down 2.6% – Here’s Why

Rio2 Limited (TSE:RIO)’s stock price traded down 2.6% during trading on Monday . The stock traded as low as C$2.60 and last traded at C$2.61. Approximately 280,434 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 1,549,534 shares. The stock had previously closed at C$2.68.

Analyst Ratings Changes

Separately, National Bank Financial set a C$5.50 price target on Rio2 and gave the company an “outperform” rating in a report on Friday, May 29th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Rio2 currently has an average rating of “Buy” and a consensus target price of C$5.50.

Rio2 Stock Performance

The stock has a market cap of C$1.44 billion, a price-to-earnings ratio of 264.00 and a beta of 2.15. The company’s 50 day simple moving average is C$2.86 and its 200 day simple moving average is C$3.04. 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 data on Saturday, May 16th. The company reported C$0.03 earnings per share (EPS) for the quarter. The company had revenue of C$91.56 million during the quarter. On average, equities research analysts anticipate that Rio2 Limited will post -0.03 earnings per share for the current year.

Rio2 Company Profile

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.