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 note issued to investors on Tuesday, BayStreet.CA reports. Raymond James currently has C$0.60 price objective on the stock, up from their previous price objective of C$0.40.

Rio2 Stock Performance

CVE RIO opened at C$0.47 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 7.59 and a quick ratio of 1.10. Rio2 has a one year low of C$0.16 and a one year high of C$0.48. The business has a 50 day simple moving average of C$0.39 and a 200 day simple moving average of C$0.31. The stock has a market capitalization of C$121.84 million, a P/E ratio of -11.75 and a beta of 2.35.

Rio2 (CVE:RIO) last announced its quarterly earnings data on Thursday, March 28th. The company reported C$0.03 EPS for the quarter. Research analysts expect that Rio2 will post -0.03 earnings per share for the current 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.