Rio2 Limited (OTCMKTS:RIOFF) Sees Large Increase in Short Interest

Rio2 Limited (OTCMKTS:RIOFF) was the recipient of a significant increase in short interest in December. As of December 31st, there was short interest totaling 1,874,915 shares, an increase of 65.7% from the December 15th total of 1,131,264 shares. Based on an average daily trading volume, of 1,912,377 shares, the short-interest ratio is presently 1.0 days. Based on an average daily trading volume, of 1,912,377 shares, the short-interest ratio is presently 1.0 days.

Rio2 Trading Up 1.5%

Shares of RIOFF opened at C$2.54 on Friday. Rio2 has a 52 week low of C$0.41 and a 52 week high of C$2.67. The business’s fifty day moving average price is C$2.04 and its two-hundred day moving average price is C$1.55.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Raymond James Financial reiterated an “outperform” rating on shares of Rio2 in a research note on Friday, October 10th. Cantor Fitzgerald lowered Rio2 to a “hold” rating in a research note on Tuesday, December 9th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

About Rio2

Rio2 Ltd. (OTCMKTS: RIOFF) is a Canada-based mineral exploration and development company focused on advancing gold assets in Ecuador. Headquartered in Vancouver, British Columbia, Rio2’s primary objective is the development of its flagship Fenix Gold Project, a large-scale gold deposit located in the eastern portion of the country. The company’s activities span exploration, feasibility studies, and permitting, with an emphasis on moving the project toward production while maintaining compliance with local regulatory frameworks.

The Fenix Gold Project holds significant gold mineralization within multiple vein and stockwork zones hosted in volcanic and sedimentary units.