Rio2 (TSE:RIO) Stock Price Up 1.1% – Still a Buy?

Rio2 Limited (TSE:RIO)’s share price rose 1.1% on Tuesday . The stock traded as high as C$3.68 and last traded at C$3.60. 1,753,048 shares traded hands during trading, an increase of 22% from the average daily volume of 1,435,898 shares. The stock had previously closed at C$3.56.

Analysts Set New Price Targets

RIO has been the subject of several recent analyst reports. Stifel Nicolaus set a C$6.10 target price on shares of Rio2 and gave the company a “buy” rating in a research note on Thursday, July 30th. National Bank Financial set a C$5.50 price target on shares of Rio2 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Rio2 currently has a consensus rating of “Buy” and an average price target of C$5.80.

Rio2 Price Performance

The company has a 50-day moving average of C$3.06 and a 200-day moving average of 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. The firm has a market capitalization of C$1.94 billion, a price-to-earnings ratio of 32.09 and a beta of 2.29.

Rio2 (TSE:RIO) last announced its earnings results on Thursday, August 13th. The company reported C$0.04 EPS for the quarter. The company had revenue of C$149.57 million for the quarter. As a group, research analysts anticipate that Rio2 Limited will post -0.03 EPS for the current fiscal year.

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.