Rio2 (CVE:RIO) Upgraded by Raymond James to “Outperform”

Rio2 (CVE:RIO) was upgraded by equities research analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research report issued on Tuesday, BayStreet.CA reports. The firm presently has a C$0.60 target price on the stock, up from their prior target price of C$0.40. Raymond James’ price objective would indicate a potential upside of 30.43% from the company’s previous close.

Rio2 Stock Performance

Shares of Rio2 stock opened at C$0.46 on Tuesday. The company has a market capitalization of C$119.25 million, a PE ratio of -11.50 and a beta of 2.35. Rio2 has a 12 month low of C$0.16 and a 12 month high of C$0.48. The company has a current ratio of 7.59, a quick ratio of 1.10 and a debt-to-equity ratio of 0.65. The stock’s fifty day simple moving average is C$0.39 and its 200 day simple moving average is C$0.31.

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