Alio Gold (NYSEAMERICAN:ALO) Lifted 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 research note released on Wednesday, reports.

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. “

Shares of Alio Gold stock opened at $0.62 on Wednesday. Alio Gold has a 12 month low of $0.51 and a 12 month high of $1.07.

Alio Gold (NYSEAMERICAN:ALO) last issued its earnings results on Thursday, August 8th. The company reported ($0.05) earnings per share (EPS) for the quarter. The business had revenue of $28.46 million during the quarter.

A hedge fund recently raised its stake in Alio Gold stock. Renaissance Technologies LLC raised its position in Alio Gold Inc (NYSEAMERICAN:ALO) by 9.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,489,353 shares of the company’s stock after buying an additional 124,971 shares during the quarter. Renaissance Technologies LLC owned about 1.76% of Alio Gold worth $1,163,000 at the end of the most recent reporting period.

About Alio Gold

Alio Gold Inc, through its subsidiaries, engages in the acquisition, exploration, development, and operation of mineral resource properties. The company primarily mines for gold and silver. It holds 100% interests in San Francisco open pit gold mine that covers an area of approximately 53,380 hectares situated in the north central portion of the state of Sonora, Mexico; Florida Canyon open pit mine covering an area of approximately 11,886 hectares located in Nevada, the United States; and Ana Paula property situated in the state of Guerrero, Mexico.

Further Reading: Outstanding Shares and The Effect on Share Price

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