Alio Gold (NYSEAMERICAN:ALO) Upgraded at Zacks Investment Research

Alio Gold (NYSEAMERICAN:ALO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, December 19th. The brokerage presently has a $3.50 price objective on the stock. Zacks Investment Research‘s price objective points to a potential downside of 3.85% from the company’s current price.

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. “

Other equities research analysts have also recently issued research reports about the stock. National Bank Financial reiterated an “outperform” rating on shares of Alio Gold in a report on Tuesday, October 17th. Royal Bank of Canada reiterated a “hold” rating and set a $7.00 price target on shares of Alio Gold in a report on Monday, October 23rd. Finally, ValuEngine downgraded shares of Alio Gold from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Alio Gold has a consensus rating of “Hold” and an average price target of $5.25.

Shares of Alio Gold (ALO) traded up $0.02 on Tuesday, reaching $3.64. 116,168 shares of the company’s stock were exchanged, compared to its average volume of 214,594. The stock has a market capitalization of $161.74, a PE ratio of 6.17 and a beta of -0.79. Alio Gold has a twelve month low of $2.82 and a twelve month high of $6.06.

Several hedge funds have recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new stake in shares of Alio Gold during the 2nd quarter valued at $125,000. FMR LLC purchased a new position in Alio Gold during the second quarter valued at $168,000. American Century Companies Inc. purchased a new position in Alio Gold during the second quarter valued at $169,000. Royal Bank of Canada purchased a new position in Alio Gold during the second quarter valued at $175,000. Finally, Commerzbank Aktiengesellschaft FI purchased a new position in Alio Gold during the second quarter valued at $198,000.

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Alio Gold Company Profile

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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