Rio2 (CVE:RIO) Shares Up 1.7% – Here’s What Happened

Rio2 Limited (CVE:RIO)’s share price traded up 1.7% during trading on Tuesday . The company traded as high as C$1.24 and last traded at C$1.23. 285,333 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 468,786 shares. The stock had previously closed at C$1.21.

Analyst Upgrades and Downgrades

Separately, Atrium Research upgraded shares of Rio2 to a “strong-buy” rating in a research report on Thursday, March 13th.

Rio2 Trading Up 1.7%

The company has a quick ratio of 1.10, a current ratio of 17.39 and a debt-to-equity ratio of 0.44. The firm has a market cap of C$369.40 million, a price-to-earnings ratio of -17.81 and a beta of 2.36. The company has a 50-day moving average price of C$1.02 and a 200 day moving average price of C$0.81.

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.