Shares of Alio Gold Inc (TSE:ALO) were up 5.7% during mid-day trading on Monday . The company traded as high as C$3.90 and last traded at C$3.65. Approximately 222,641 shares were traded during mid-day trading, an increase of 35% from the average daily volume of 164,511 shares. The stock had previously closed at C$3.87.
A number of analysts have recently issued reports on ALO shares. TD Securities cut their price objective on Alio Gold from C$11.50 to C$10.50 and set a “buy” rating for the company in a research report on Friday, August 11th. BMO Capital Markets raised Alio Gold from an “underperform” rating to a “market perform” rating in a research report on Friday, August 11th. National Bank Financial reaffirmed an “outperform” rating on shares of Alio Gold in a research report on Tuesday, October 17th. Scotiabank reaffirmed a “sector perform” rating and issued a C$7.50 price objective on shares of Alio Gold in a research report on Friday, November 10th. Finally, Raymond James Financial dropped their price target on Alio Gold from C$9.50 to C$7.25 and set an “underperform” rating for the company in a report on Tuesday, November 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Alio Gold currently has an average rating of “Hold” and a consensus price target of C$7.65.
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About Alio Gold
Alio Gold Inc, through its subsidiaries, engages in the acquisition, exploration, development, and operation of mineral resource properties in Mexico. It primarily explores for gold deposits. The company holds a 100 % interest in the Ana Paula Property in Guerrero, Mexico. The company was formerly known as Timmins Gold Corp.
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