Alio Gold (NYSEAMERICAN:ALO) Lifted to “Hold” at Zacks Investment Research

Alio Gold (NYSEAMERICAN:ALO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, 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. “

NYSEAMERICAN:ALO traded up $0.02 during mid-day trading on Wednesday, hitting $0.63. 1,800 shares of the company’s stock were exchanged, compared to its average volume of 183,689. Alio Gold has a fifty-two week low of $0.51 and a fifty-two week high of $1.07.

Alio Gold (NYSEAMERICAN:ALO) last posted its earnings results on Thursday, August 8th. The company reported ($0.05) EPS for the quarter. The company had revenue of $28.46 million for 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 2nd quarter, according to the company in its most recent 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 period. Renaissance Technologies LLC owned about 1.76% of Alio Gold worth $1,163,000 at the end of the most recent quarter.

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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