Rio2 (TSE:RIO) Releases Earnings Results

Rio2 (TSE:RIO) announced its quarterly earnings results on Tuesday. The company reported C$0.06 EPS for the quarter, FiscalAI reports. The firm had revenue of C$164.26 million during the quarter.

Rio2 Trading Up 0.4%

RIO traded up C$0.01 during trading on Tuesday, reaching C$2.78. 1,148,601 shares of the company’s stock were exchanged, compared to its average volume of 1,438,468. The company has a current ratio of 4.70, a quick ratio of 1.09 and a debt-to-equity ratio of 0.23. Rio2 has a one year low of C$2.10 and a one year high of C$4.09. The firm has a fifty day moving average price of C$3.17 and a two-hundred day moving average price of C$3.03. The stock has a market capitalization of C$1.53 billion, a PE ratio of 25.27 and a beta of 1.85.

Wall Street Analysts Forecast Growth

Separately, 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 research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$5.80.

About Rio2

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.