Stifel Nicolaus Reiterates “C$6.10” Price Target for Rio2 (TSE:RIO)

Rio2 (TSE:RIO) has been assigned a C$6.10 price objective by equities researchers at Stifel Nicolaus in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 130.19% from the company’s previous close.

Separately, National Bank Financial set a C$5.50 target price on shares of Rio2 and gave the company an “outperform” rating in a report on Friday, May 29th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, Rio2 presently has an average rating of “Buy” and a consensus target price of C$5.80.

Rio2 Trading Up 5.2%

Shares of TSE:RIO traded up C$0.13 during midday trading on Thursday, reaching C$2.65. The company’s stock had a trading volume of 590,794 shares, compared to its average volume of 1,473,951. The firm has a market cap of C$1.45 billion, a price-to-earnings ratio of 265.00 and a beta of 2.15. The business has a 50 day moving average price of C$2.76 and a 200 day moving average price of C$2.98. Rio2 has a 1 year low of C$1.41 and a 1 year high of C$4.09. The company has a quick ratio of 1.09, a current ratio of 2.10 and a debt-to-equity ratio of 0.19.

Rio2 (TSE:RIO) last issued its quarterly earnings results on Saturday, May 16th. The company reported C$0.03 earnings per share (EPS) for the quarter. The business had revenue of C$91.56 million during the quarter. Research analysts forecast that Rio2 will post -0.03 EPS for the current year.

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.