Rio2 Limited (OTCMKTS:RIOFF – Get Free Report) was the recipient of a large increase in short interest in May. As of May 15th, there was short interest totaling 2,358,405 shares, an increase of 151.3% from the April 30th total of 938,640 shares. Based on an average daily trading volume, of 932,946 shares, the days-to-cover ratio is currently 2.5 days.
Rio2 Trading Down 0.4%
Shares of Rio2 stock traded down C$0.01 during trading hours on Monday, reaching C$2.30. 152,793 shares of the company’s stock were exchanged, compared to its average volume of 727,029. Rio2 has a 52-week low of C$0.86 and a 52-week high of C$3.02. The company has a fifty day moving average of C$2.05 and a 200-day moving average of C$2.17.
Analyst Ratings Changes
Separately, National Bank Financial began coverage on Rio2 in a research note on Thursday. They set an “outperform” rating on the stock. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “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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