Alio Gold (ALO) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Alio Gold (NYSEAMERICAN:ALO) from a hold rating to a buy rating in a report issued on Tuesday morning. Zacks Investment Research currently has $4.00 target price on the stock.
According to Zacks, “Alio Gold Inc. is a gold mining company. It engaged in exploration, development and production primarily in Mexico. The company’s principal assets include the producing San Francisco mine in Sonora, Mexico and the development stage Ana Paula project in Guerrero, Mexico. Alio Gold Inc, formerly known as Timmins Gold Corp, is headquartered in Vancouver, Canada. “
Several other analysts also recently commented on ALO. ValuEngine raised shares of Alio Gold from a hold rating to a buy rating in a research report on Monday, October 2nd. National Bank Financial reaffirmed an outperform rating on shares of Alio Gold in a research report on Tuesday, October 17th. Finally, Royal Bank of Canada reaffirmed a hold rating and set a $7.00 price objective on shares of Alio Gold in a research report on Monday, October 23rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Alio Gold currently has an average rating of Buy and a consensus price target of $5.50.
Alio Gold (NYSEAMERICAN:ALO) last released its quarterly earnings results on Thursday, November 9th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.09.
A number of hedge funds and other institutional investors have recently bought and sold shares of ALO. American Century Companies Inc. acquired a new stake in Alio Gold in the 2nd quarter valued at $169,000. AXA acquired a new stake in Alio Gold in the 2nd quarter valued at $480,000. FMR LLC acquired a new stake in Alio Gold in the 2nd quarter valued at $168,000. Aegis Financial Corp acquired a new stake in Alio Gold in the 2nd quarter valued at $1,103,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in Alio Gold in the 2nd quarter valued at $609,000.
About Alio Gold
Alio Gold Inc, formerly Timmins Gold Corp, is a Canada-based gold producer engaged in the operation, development, exploration and acquisition of resource properties in Mexico through its subsidiaries, Timmins Goldcorp Mexico, SA de C.V. and Molimentales del Noroeste, SA de C.V. (MdN). MdN owns the San Francisco Mine in Sonora, Mexico.
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