Rio2 (CVE:RIO) Rating Increased to Outperform at Raymond James

Rio2 (CVE:RIO) was upgraded by stock analysts at Raymond James from a “market perform” rating to an “outperform” rating in a note issued to investors on Tuesday, BayStreet.CA reports. The brokerage presently has a C$0.60 target price on the stock, up from their previous target price of C$0.40. Raymond James’ price target would suggest a potential upside of 27.66% from the stock’s previous close.

Rio2 Price Performance

Shares of RIO stock remained flat at C$0.47 during trading hours on Tuesday. 211,750 shares of the stock traded hands, compared to its average volume of 240,479. The stock has a 50-day moving average price of C$0.39 and a two-hundred day moving average price of C$0.31. Rio2 has a 1 year low of C$0.16 and a 1 year high of C$0.47. The firm has a market cap of C$121.84 million, a PE ratio of -11.75 and a beta of 2.35. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.10 and a current ratio of 7.59.

Rio2 (CVE:RIO) last released its earnings results on Thursday, March 28th. The company reported C$0.03 earnings per share (EPS) for the quarter. On average, equities analysts forecast that Rio2 will post -0.03 earnings per share for the current fiscal year.

Rio2 Company Profile

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.