Rio2 (OTCMKTS:RIOFF) Stock Price Down 0.3% – Here’s What Happened

Shares of Rio2 Limited (OTCMKTS:RIOFF) dropped 0.3% during mid-day trading on Wednesday . The company traded as low as C$2.58 and last traded at C$2.58. Approximately 688,603 shares were traded during trading, a decline of 31% from the average daily volume of 999,811 shares. The stock had previously closed at C$2.59.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Raymond James Financial reaffirmed an “outperform” rating on shares of Rio2 in a research report 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Rio2 Stock Down 0.3%

The business has a fifty day moving average price of C$2.00 and a two-hundred day moving average price of C$1.53.

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.