Shares of Rio2 Ltd (CVE:RIO) dropped 1.4% during mid-day trading on Tuesday . The company traded as low as C$0.37 and last traded at C$0.37, approximately 10,000 shares traded hands during mid-day trading. A decline of 95% from the average daily volume of 215,761 shares. The stock had previously closed at C$0.37.
RIO has been the subject of a number of recent research reports. Fundamental Research set a C$0.93 target price on Rio2 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Mackie set a C$1.00 target price on Rio2 and gave the company a “speculative buy” rating in a research note on Tuesday.
The stock’s fifty day moving average is C$0.40 and its two-hundred day moving average is C$0.42. The firm has a market capitalization of $75.91 million and a price-to-earnings ratio of -3.54. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.64 and a current ratio of 0.66.
Rio2 Limited operates as a precious metals company in Americas. The company has right and option to acquire interests in seven gold exploration prospects, which is located in Peru, covering an area of approximately 19,000 hectares. It had also applied for 10,000 hectares of exploration concessions in Nicaragua.
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