Rio2 (TSE:RIO) Shares Down 1.2% – Should You Sell?

Shares of Rio2 Limited (TSE:RIO) traded down 1.2% during trading on Tuesday. The company traded as low as C$3.25 and last traded at C$3.29. Approximately 1,401,953 shares were traded during trading, a decline of 7% from the average session volume of 1,512,751 shares. The stock had previously closed at C$3.33.

Analysts Set New Price Targets

Separately, Stifel Nicolaus set a C$6.10 price objective on shares of Rio2 and gave the company a “buy” rating in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of C$5.80.

Rio2 Stock Performance

The company has a 50-day moving average of C$3.29 and a 200-day moving average of C$2.96. The company has a market cap of C$1.81 billion, a PE ratio of 29.91 and a beta of 2.29. The company has a quick ratio of 1.09, a current ratio of 2.10 and a debt-to-equity ratio of 0.19.

Rio2 (TSE:RIO) last released its quarterly earnings data on Thursday, August 13th. The company reported C$0.04 earnings per share for the quarter. The business had revenue of C$149.57 million during the quarter. As a group, analysts anticipate that Rio2 Limited will post -0.03 earnings per share for the current 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.