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Rio Alto Mining Limited (TSE:RIO) posted its quarterly earnings results on Friday. The company reported $0.09 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.07 by $0.02, AnalystRatings.NET reports.

A number of analysts have recently weighed in on RIO shares. Analysts at Scotiabank upgraded shares of Rio Alto Mining Limited to a “sector outperform” rating in a research note on Friday, August 8th. On a related note, analysts at Pi Financial downgraded shares of Rio Alto Mining Limited from a “buy” rating to a “neutral” rating in a research note on Thursday, May 22nd. They now have a C$2.50 price target on the stock, down previously from C$3.25. Finally, analysts at BMO Capital Markets cut their price target on shares of Rio Alto Mining Limited from C$2.50 to C$2.25 in a research note on Thursday, May 22nd. They now have a “market perform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of C$3.01.

Shares of Rio Alto Mining Limited (TSE:RIO) opened at 2.95 on Friday. Rio Alto Mining Limited has a 1-year low of $1.33 and a 1-year high of $3.06. The stock’s 50-day moving average is $2.6 and its 200-day moving average is $2.33. The company has a market cap of $522.1 million and a P/E ratio of 14.40.

Rio Alto Mining Limited (TSE:RIO) is engaged in the acquisition and exploration and developing gold resources and advanced stage exploration projects in both Peru and Latin America.

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