Rio2 (CVE:RIO) Trading Up 1.1%

Rio2 Limited (CVE:RIO) shares shot up 1.1% on Thursday . The company traded as high as C$0.48 and last traded at C$0.48. 156,903 shares were traded during mid-day trading, a decline of 29% from the average session volume of 219,936 shares. The stock had previously closed at C$0.48.

Analysts Set New Price Targets

A number of equities analysts recently commented on RIO shares. Raymond James upgraded shares of Rio2 from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from C$0.40 to C$0.60 in a research report on Tuesday, April 23rd. Eight Capital set a C$1.10 target price on Rio2 and gave the company a “buy” rating in a report on Thursday, June 6th.

Rio2 Price Performance

The firm’s fifty day moving average price is C$0.51 and its two-hundred day moving average price is C$0.41. The stock has a market capitalization of C$152.93 million, a PE ratio of -12.00 and a beta of 2.34. The company has a quick ratio of 1.10, a current ratio of 7.72 and a debt-to-equity ratio of 0.64.

Rio2 (CVE:RIO) last released its quarterly earnings results on Thursday, May 30th. The company reported C($0.01) EPS for the quarter. On average, equities analysts predict that Rio2 Limited will post -0.03 earnings per share 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.