Rio2 (TSE:RIO) Stock Falls 1.2% – Time to Sell?

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

Analyst Ratings Changes

Separately, Stifel Nicolaus set a C$6.10 price target on shares of Rio2 and gave the stock a “buy” rating in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$5.80.

Rio2 Price Performance

The business’s 50-day moving average price is C$3.29 and its 200 day moving average price is C$2.96. The stock has a market capitalization of C$1.81 billion, a PE ratio of 29.91 and a beta of 2.29. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.09 and a current ratio of 2.10.

Rio2 (TSE:RIO) last released its quarterly earnings results on Thursday, August 13th. The company reported C$0.04 earnings per share for the quarter. The firm had revenue of C$149.57 million during the quarter. Research analysts forecast 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.