Rio2 Limited (OTCMKTS:RIOFF – Get Free Report) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totaling 1,132,943 shares, an increase of 562.0% from the November 30th total of 171,131 shares. Based on an average trading volume of 1,222,901 shares, the short-interest ratio is currently 0.9 days. Based on an average trading volume of 1,222,901 shares, the short-interest ratio is currently 0.9 days.
Rio2 Stock Performance
Shares of RIOFF traded up C$0.10 during mid-day trading on Friday, reaching C$2.48. 326,151 shares of the company’s stock were exchanged, compared to its average volume of 339,543. The business’s fifty day simple moving average is C$1.71 and its 200-day simple moving average is C$1.38. Rio2 has a 52-week low of C$0.40 and a 52-week high of C$2.49.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on RIOFF. Cantor Fitzgerald downgraded Rio2 to a “hold” rating in a report on Tuesday, December 9th. Raymond James Financial reiterated an “outperform” rating on shares of Rio2 in a report on Friday, October 10th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus 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.
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