Brokers Offer Predictions for Rio2 Limited’s FY2024 Earnings (CVE:RIO)

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

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

Separately, Eight Capital set a C$1.10 price target on Rio2 and gave the company a “buy” rating in a research note on Thursday, June 6th.

Rio2 Price Performance

Shares of RIO stock opened at C$0.64 on Thursday. The firm’s 50 day moving average price is C$0.56 and its two-hundred day moving average price is 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 52-week low of C$0.16 and a 52-week high of C$0.66. The stock has a market cap of C$203.90 million, a PE ratio of -16.00 and a beta of 2.35.

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.