Rio2 Limited (OTCMKTS:RIOFF) Sees Significant Growth in Short Interest

Rio2 Limited (OTCMKTS:RIOFF) saw a large increase in short interest in the month of 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 short-interest ratio is presently 2.5 days.

Wall Street Analysts Forecast Growth

Separately, National Bank Financial started coverage on Rio2 in a research note on Thursday. They set an “outperform” rating on the stock. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Rio2 currently has a consensus rating of “Buy”.

Rio2 Stock Up 7.9%

RIOFF stock opened at C$2.31 on Friday. The stock’s 50 day simple moving average is C$2.05 and its 200 day simple moving average is C$2.17. Rio2 has a fifty-two week low of C$0.81 and a fifty-two week high of C$3.02.

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.