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

Raymond James upgraded shares of Rio2 (CVE:RIO) from a market perform rating to an outperform rating in a research report report published on Tuesday morning, BayStreet.CA reports. The brokerage currently has C$0.60 target price on the stock, up from their previous target price of C$0.40.

Rio2 Price Performance

Shares of CVE:RIO opened at C$0.47 on Tuesday. Rio2 has a 52-week low of C$0.16 and a 52-week high of C$0.48. The firm has a market capitalization of C$121.84 million, a P/E ratio of -11.75 and a beta of 2.35. The stock has a 50 day moving average price of C$0.39 and a 200-day moving average price of C$0.31. 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 announced its earnings results on Thursday, March 28th. The company reported C$0.03 earnings per share (EPS) for the quarter. As a group, equities research analysts anticipate that Rio2 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.