Rio2 (TSE:RIO) Stock Price Down 2.6% – Here’s Why

Rio2 Limited (TSE:RIO)’s stock price was down 2.6% on Monday . The stock traded as low as C$2.60 and last traded at C$2.61. 280,434 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 1,549,534 shares. The stock had previously closed at C$2.68.

Analysts Set New Price Targets

Separately, National Bank Financial set a C$5.50 price target on shares of Rio2 and gave the stock an “outperform” rating in a report on Friday, May 29th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$5.50.

Rio2 Stock Down 2.6%

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.09 and a current ratio of 2.10. The firm has a market capitalization of C$1.43 billion, a price-to-earnings ratio of 261.00 and a beta of 2.15. The firm has a fifty day moving average price of C$2.86 and a 200 day moving average price of C$3.04.

Rio2 (TSE:RIO) last announced its quarterly earnings data on Saturday, May 16th. The company reported C$0.03 earnings per share for the quarter. The business had revenue of C$91.56 million for the quarter. As a group, sell-side analysts expect that Rio2 Limited will post -0.03 EPS 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.