Rio2 (TSE:RIO) Posts Earnings Results

Rio2 (TSE:RIO) released its earnings results on Thursday. The company reported C$0.04 earnings per share for the quarter, FiscalAI reports. The firm had revenue of C$149.57 million during the quarter.

Rio2 Stock Down 0.7%

RIO stock opened at C$3.02 on Friday. Rio2 has a one year low of C$1.56 and a one year high of C$4.09. The firm has a market cap of C$1.65 billion, a PE ratio of 302.00 and a beta of 2.18. The firm’s 50 day moving average price is C$2.77 and its 200-day moving average price is C$2.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.09 and a current ratio of 2.10.

Analyst Upgrades and Downgrades

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