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Rio2 ( (TSE:RIO) ) has provided an update.
Rio2 Limited has increased its stake in Royal Road Minerals Limited by participating in a non-brokered private placement, acquiring 4,166,667 ordinary shares for $750,000. This acquisition raises Rio2’s ownership to approximately 15% of Royal Road’s issued shares, aligning with its investment strategy and maintaining its pro rata ownership rights.
The most recent analyst rating on (TSE:RIO) stock is a Buy with a C$2.50 price target. To see the full list of analyst forecasts on Rio2 stock, see the TSE:RIO Stock Forecast page.
Spark’s Take on TSE:RIO Stock
According to Spark, TipRanks’ AI Analyst, TSE:RIO is a Neutral.
The overall stock score for Rio2 Limited is 50. The company’s main strengths lie in its technical analysis, suggesting potential upward momentum, and corporate events, with positive developments in the Fenix Gold Project. However, these are significantly offset by poor financial performance, with no revenue and consistent losses. Valuation remains a concern, with a negative P/E ratio and no dividend yield, indicating risks for investors.
To see Spark’s full report on TSE:RIO stock, click here.
More about Rio2
Rio2 Limited is a mining company focused on development and mining operations, particularly on advancing its Fenix Gold Project in Chile. The company is known for its technical expertise and successful capital markets track record, emphasizing high environmental standards and responsible development.
Average Trading Volume: 590,630
Technical Sentiment Signal: Buy
Current Market Cap: C$1.06B
Learn more about RIO stock on TipRanks’ Stock Analysis page.