Short Interest in Rio2 Limited (OTCMKTS:RIOFF) Rises By 43.0%

Rio2 Limited (OTCMKTS:RIOFF) was the recipient of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 723,652 shares, a growth of 43.0% from the February 26th total of 506,115 shares. Based on an average daily trading volume, of 1,325,979 shares, the short-interest ratio is presently 0.5 days.

Rio2 Stock Performance

Shares of OTCMKTS:RIOFF opened at C$1.83 on Monday. The company has a 50 day moving average of C$2.37 and a 200-day moving average of C$1.97. Rio2 has a one year low of C$0.51 and a one year high of C$3.02.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald upgraded Rio2 from a “hold” rating to a “buy” rating in a research report on Monday, January 26th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Rio2 currently has a consensus rating of “Buy”.

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.