Alio Gold (ALO) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Alio Gold (NYSEAMERICAN:ALO) from a sell rating to a hold rating in a report released on Wednesday morning.

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. “

ALO opened at $0.93 on Wednesday. Alio Gold has a fifty-two week low of $0.63 and a fifty-two week high of $3.80.

Alio Gold (NYSEAMERICAN:ALO) last posted its quarterly earnings results on Thursday, November 8th. The company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.02). The firm had revenue of $27.94 million during the quarter.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Donald Smith & CO. Inc. raised its stake in shares of Alio Gold by 945.1% during the 3rd quarter. Donald Smith & CO. Inc. now owns 6,440,309 shares of the company’s stock worth $5,137,000 after purchasing an additional 5,824,055 shares in the last quarter. Van ECK Associates Corp purchased a new stake in shares of Alio Gold during the 2nd quarter worth about $4,645,000. Renaissance Technologies LLC raised its stake in shares of Alio Gold by 5.7% during the 3rd quarter. Renaissance Technologies LLC now owns 1,520,814 shares of the company’s stock worth $1,213,000 after purchasing an additional 82,234 shares in the last quarter. U S Global Investors Inc raised its stake in shares of Alio Gold by 43.4% during the 3rd quarter. U S Global Investors Inc now owns 1,232,923 shares of the company’s stock worth $983,000 after purchasing an additional 372,923 shares in the last quarter. Finally, First Manhattan Co. purchased a new stake in shares of Alio Gold during the 3rd quarter worth about $677,000.

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 sells gold and silver. The company's principal assets include its 100% owned and operating San Francisco open-pit, heap leach gold mine in Sonora, Mexico; and its 100%-owned development stage Ana Paula Project in Guerrero, Mexico.

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