Rio2 (TSE:RIO) Trading Down 1.5% – Should You Sell?

Rio2 Limited (TSE:RIO)’s stock price traded down 1.5% during trading on Monday . The company traded as low as C$2.55 and last traded at C$2.63. 1,023,102 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 1,639,404 shares. The stock had previously closed at C$2.67.

Wall Street Analyst Weigh In

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

Rio2 Price Performance

The company has a current ratio of 2.10, a quick ratio of 1.09 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average price is C$2.88 and its two-hundred day moving average price is C$3.04. The stock has a market cap of C$1.33 billion, a PE ratio of 243.00 and a beta of 2.16.

Rio2 (TSE:RIO) last issued its quarterly earnings data on Saturday, May 16th. The company reported C$0.03 earnings per share (EPS) for the quarter. The business had revenue of C$91.56 million for the quarter. On average, equities analysts expect that Rio2 Limited will post -0.03 earnings per share for the current fiscal 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.