02:26:43 EDT Sat 20 Apr 2024
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Rio Alto Mining Ltd
Symbol RIO
Shares Issued 333,888,690
Close 2015-03-04 C$ 3.66
Market Cap C$ 1,222,032,605
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Int'l Speculator says sell Rio Alto Mining

2015-03-04 21:31 ET - In the News

The International Speculator, in its Feb. 20, 2015, issue, downgrades Rio Alto Mining Ltd. (recently $2.89) to a sell from a buy, officially, "Position closed." The newsletter said buy on Aug. 6, 2014, at $2.26. Assuming an investment of $1,000 at $2.26, selling at $2.89 yields a profit of $256. The writer notes Rio Alto is merging with Tahoe Resources Inc. in a transaction he sees as more of a Tahoe takeover. He thinks the deal is a good one for Rio Alto, but is concerned it will increase the company's risk profile. He does not elaborate; both companies operate in Peru. Elsewhere in the issue, Louis James, Casey Research's senior metals investment strategist, disputes U.S. Department of Labour figures on unemployment, citing what he considers much more reliable numbers calculated by John Williams at Shadowstats.com. Mr. Williams tallies unemployment at near Great Depression levels -- 23.2 per cent for January, 2015. Mr. James also disputes GDP growth claims at 5 per cent, a figure that Washington officials later reduced. The fact is, he says, "The numbers have been debunked as smoke and mirrors" and contends the "spin masters" in power are lulling the public into a false sense of security. Apparently, doom remains at hand.

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