Alio Gold Inc (NYSE:ALO) Downgraded by Zacks Investment Research to Hold

Alio Gold Inc (NYSE:ALO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday, July 24th.

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. “

Alio Gold (ALO) traded up 0.51% during mid-day trading on Monday, hitting $3.92. 111,551 shares of the stock traded hands. The company’s 50 day moving average price is $4.20 and its 200-day moving average price is $4.26. Alio Gold has a 1-year low of $0.45 and a 1-year high of $6.28. The stock has a market cap of $139.40 million and a price-to-earnings ratio of 2.84.

Alio Gold (NYSE:ALO) last released its quarterly earnings results on Thursday, August 10th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.09. The business had revenue of $27.07 million for the quarter, compared to analysts’ expectations of $25 million. Analysts predict that Alio Gold will post $0.43 earnings per share for the current year.

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Institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC bought a new stake in Alio Gold during the second quarter worth about $125,000. FMR LLC bought a new stake in Alio Gold during the second quarter worth about $168,000. American Century Companies Inc. acquired a new stake in shares of Alio Gold during the second quarter valued at $169,000. Royal Bank of Canada acquired a new stake in shares of Alio Gold during the second quarter valued at $175,000. Finally, Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Alio Gold during the second quarter valued at $198,000.

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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