Rio2 (TSE:RIO) Shares Down 1.2% – Time to Sell?

Shares of Rio2 Limited (TSE:RIO) traded down 1.2% on Tuesday. The stock traded as low as C$3.25 and last traded at C$3.29. Approximately 1,401,953 shares traded hands during mid-day trading, a decline of 7% from the average session volume of 1,512,751 shares. The stock had previously closed at C$3.33.

Analysts Set New Price Targets

Separately, Stifel Nicolaus set a C$6.10 target price on shares of Rio2 and gave the company a “buy” rating in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$5.80.

Rio2 Stock Down 1.6%

The stock has a market capitalization of C$1.71 billion, a P/E ratio of 28.36 and a beta of 2.29. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.10 and a quick ratio of 1.09. The stock’s fifty day moving average is C$3.30 and its two-hundred day moving average is C$2.96.

Rio2 (TSE:RIO) last announced its earnings results on Thursday, August 13th. The company reported C$0.04 earnings per share (EPS) for the quarter. The company had revenue of C$149.57 million for the quarter. As a group, research analysts predict that Rio2 Limited will post -0.03 earnings per share for the current fiscal year.

Rio2 Company Profile

Rio2 is a diversified precious metals and copper producer focused on building and operating mines with a management team that has proven technical skills as well as a successful capital markets track record. The Company is currently producing gold at its Fenix Gold heap leach mine in Chile and copper/gold/silver at its recently acquired Condestable underground mine in Peru. Rio2 and its wholly owned subsidiaries, Fenix Gold Limitada and Compañía Minera Condestable SA, are companies that operate with the highest environmental standards and responsibility with the firm conviction that it is possible to develop mining projects that respect the three pillars (Social, Environment, Economics) of responsible development.