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

Rio2 Limited (OTCMKTS:RIOFF) was the recipient of a large drop in short interest in the month of January. As of January 15th, there was short interest totaling 1,557,910 shares, a drop of 16.9% from the December 31st total of 1,874,915 shares. Based on an average trading volume of 1,834,522 shares, the days-to-cover ratio is presently 0.8 days. Based on an average trading volume of 1,834,522 shares, the days-to-cover ratio is presently 0.8 days.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on RIOFF shares. Cantor Fitzgerald upgraded shares of Rio2 from a “hold” rating to a “buy” rating in a research report on Monday, January 26th. Raymond James Financial restated an “outperform” rating on shares of Rio2 in a research report on Friday, October 10th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Rio2 Price Performance

OTCMKTS RIOFF opened at C$2.33 on Tuesday. Rio2 has a fifty-two week low of C$0.46 and a fifty-two week high of C$3.02. The stock’s fifty day moving average is C$2.27 and its two-hundred day moving average is C$1.67.

Rio2 Company Profile

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.