Rio2 (CVE:RIO) Lifted to "Outperform" at Raymond James

Rio2 (CVE:RIO - Get Free Report) was upgraded by equities researchers 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 price target on the stock, up from their previous price target of C$0.40. Raymond James' price target would indicate a potential upside of 27.66% from the company's current price.

Rio2 Stock Performance

CVE RIO remained flat at C$0.47 on Tuesday. The company's stock had a trading volume of 272,250 shares, compared to its average volume of 241,245. The business 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 current ratio of 7.59, a quick ratio of 1.10 and a debt-to-equity ratio of 0.65. Rio2 has a 12-month low of C$0.16 and a 12-month high of C$0.48. The company has a market cap of C$121.84 million, a PE ratio of -11.75 and a beta of 2.35.

Rio2 (CVE:RIO - Get Free Report) last released its earnings results on Thursday, March 28th. The company reported C$0.03 earnings per share for the quarter. As a group, analysts predict 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.