Zacks Investment Research Downgrades Alio Gold (NYSEAMERICAN:ALO) to Hold

Alio Gold (NYSEAMERICAN:ALO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday, Zacks.com 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. “

Separately, Pi Financial cut Alio Gold to a “hold” rating and set a $1.00 price objective for the company. in a research note on Tuesday, May 28th.

NYSEAMERICAN ALO traded up $0.01 on Monday, reaching $0.68. The stock had a trading volume of 1,300 shares, compared to its average volume of 191,261. 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 quarterly earnings data on Thursday, August 8th. The company reported ($0.05) earnings per share for the quarter. The business had revenue of $28.46 million during the quarter.

An institutional investor recently raised its position in Alio Gold stock. Renaissance Technologies LLC increased its holdings in shares of Alio Gold Inc (NYSEAMERICAN:ALO) by 9.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,489,353 shares of the company’s stock after acquiring an additional 124,971 shares during the period. Renaissance Technologies LLC owned approximately 1.76% of Alio Gold worth $1,163,000 as of its most recent SEC filing.

Alio Gold Company Profile

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.

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