Raymond James upgraded shares of Rio2 (CVE:RIO – Free Report) from a market perform rating to an outperform rating in a research report released on Tuesday morning, BayStreet.CA reports. The brokerage currently has C$0.60 price objective on the stock, up from their previous price objective of C$0.40.
Rio2 Price Performance
CVE RIO opened at C$0.47 on Tuesday. Rio2 has a 52 week low of C$0.16 and a 52 week high of C$0.48. The company has a current ratio of 7.59, a quick ratio of 1.10 and a debt-to-equity ratio of 0.65. The stock has a market cap of C$120.54 million, a price-to-earnings ratio of -11.63 and a beta of 2.35. The company has a 50-day moving average price of C$0.39 and a two-hundred day moving average price of C$0.31.
Rio2 (CVE:RIO – Get Free Report) last posted its earnings results on Thursday, March 28th. The company reported C$0.03 EPS for the quarter. Analysts forecast 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.
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