Rio2 (CVE:RIO) Rating Increased to Outperform at Raymond James

Rio2 (CVE:RIO) was upgraded by equities researchers at Raymond James from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The brokerage currently has a C$0.60 price objective on the stock, up from their previous price objective of C$0.40. Raymond James’ price objective would suggest a potential upside of 27.66% from the stock’s current price.

Rio2 Stock Performance

RIO remained flat at C$0.47 during trading on Tuesday. 211,750 shares of the company’s stock traded hands, compared to its average volume of 240,479. The stock has a market cap of C$121.84 million, a P/E ratio of -11.75 and a beta of 2.35. Rio2 has a 52 week low of C$0.16 and a 52 week high of C$0.47. The company has a quick ratio of 1.10, a current ratio of 7.59 and a debt-to-equity ratio of 0.65. The business’s fifty day simple moving average is C$0.39 and its 200 day simple moving average is C$0.31.

Rio2 (CVE:RIO) last posted its quarterly earnings results on Thursday, March 28th. The company reported C$0.03 earnings per share (EPS) for the quarter. On average, equities research analysts anticipate that Rio2 will post -0.03 EPS for the current year.

About Rio2

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.