Rio2 (TSE:RIO) PT Set at C$6.10 by Stifel Nicolaus

Rio2 (TSE:RIO) has been given a C$6.10 price target by Stifel Nicolaus in a research note issued on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 130.19% from the company’s previous close.

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

Rio2 Price Performance

TSE RIO traded up C$0.13 during trading hours 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 company has a debt-to-equity ratio of 0.19, a quick ratio of 1.09 and a current ratio of 2.10. The company’s 50-day moving average is C$2.76 and its two-hundred day moving average is C$2.98. Rio2 has a fifty-two week low of C$1.41 and a fifty-two week high of C$4.09. The stock has a market cap of C$1.45 billion, a PE ratio of 265.00 and a beta of 2.15.

Rio2 (TSE:RIO) last announced its 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 for the quarter. 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.