Rio2 (CVE:RIO) Trading 0.6% Higher – Should You Buy?

Rio2 Limited (CVE:RIO)’s share price rose 0.6% during trading on Thursday . The stock traded as high as C$0.80 and last traded at C$0.79. Approximately 227,847 shares traded hands during trading, a decline of 42% from the average daily volume of 390,053 shares. The stock had previously closed at C$0.78.

Analyst Upgrades and Downgrades

Separately, Atrium Research upgraded shares of Rio2 to a “strong-buy” rating in a research report on Thursday.

Rio2 Stock Down 0.6 %

The firm’s 50-day moving average price is C$0.71 and its 200 day moving average price is C$0.66. The firm has a market cap of C$234.26 million, a P/E ratio of -11.29 and a beta of 2.36. The company has a quick ratio of 1.10, a current ratio of 17.39 and a debt-to-equity ratio of 0.44.

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.