Rio2 Limited (CVE:RIO) to Post FY2024 Earnings of ($0.03) Per Share, Raymond James Forecasts

Rio2 Limited (CVE:RIO) – Raymond James lowered their FY2024 earnings estimates for Rio2 in a note issued to investors on Monday, September 23rd. Raymond James analyst C. Stanley now forecasts that the company will post earnings per share of ($0.03) for the year, down from their prior estimate of ($0.01). The consensus estimate for Rio2’s current full-year earnings is ($0.03) per share.

Separately, Eight Capital set a C$1.10 price target on shares of Rio2 and gave the stock a “buy” rating in a report on Thursday, June 6th.

Rio2 Stock Up 3.2 %

Shares of Rio2 stock opened at C$0.65 on Thursday. The company has a market cap of C$207.09 million, a P/E ratio of -16.25 and a beta of 2.35. The firm has a fifty day moving average of C$0.56 and a two-hundred day moving average of C$0.51. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.10 and a current ratio of 24.96. Rio2 has a one year low of C$0.16 and a one year high of C$0.66.

Rio2 (CVE:RIO) last announced its earnings results on Thursday, August 29th. The company reported C($0.01) earnings per share for the quarter.

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.