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Rio2 ( (TSE:RIO) ) has issued an announcement.
Rio2 Limited has successfully closed a brokered private placement, raising gross proceeds of C$14 million through the sale of 6,306,300 common shares to investors in Peru and Chile. The funds will be allocated towards working capital and general corporate purposes, positioning the company for growth and supporting its operational goals, particularly its efforts to advance the Fenix Gold Project in Chile to production.
The most recent analyst rating on (TSE:RIO) stock is a Hold 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 dedicated to development and mining operations. The company seeks to bring its Fenix Gold Project in Chile into production quickly using a staged development approach, while maintaining high environmental standards and balancing social, environmental, and economic factors for sustainable development.
Average Trading Volume: 788,636
Technical Sentiment Signal: Buy
Current Market Cap: C$1.23B
See more data about RIO stock on TipRanks’ Stock Analysis page.