Alio Gold (NYSEAMERICAN:ALO) Upgraded to “Buy” at Zacks Investment Research

Alio Gold (NYSEAMERICAN:ALO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, December 19th. The firm currently has a $3.50 price target on the stock. Zacks Investment Research‘s price target indicates a potential downside of 3.31% from the stock’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 research analysts have also recently issued research reports about the company. ValuEngine raised Alio Gold from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Royal Bank of Canada reissued a “hold” rating and issued a $7.00 price objective on shares of Alio Gold in a research report on Monday, October 23rd. Finally, National Bank Financial reissued an “outperform” rating on shares of Alio Gold in a research report on Tuesday, October 17th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $5.25.

Alio Gold (ALO) traded up $0.10 during mid-day trading on Tuesday, reaching $3.62. The company’s stock had a trading volume of 119,823 shares, compared to its average volume of 136,515. Alio Gold has a twelve month low of $2.82 and a twelve month high of $6.06. The stock has a market capitalization of $165.76, a PE ratio of 6.14 and a beta of -0.79.

Institutional investors and hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC bought a new stake in shares of Alio Gold in the second quarter valued at $125,000. FMR LLC bought a new stake in shares of Alio Gold during the 2nd quarter valued at $168,000. American Century Companies Inc. bought a new stake in shares of Alio Gold during the 2nd quarter valued at $169,000. Royal Bank of Canada bought a new stake in shares of Alio Gold during the 2nd quarter valued at $175,000. Finally, Commerzbank Aktiengesellschaft FI bought a new stake in shares of Alio Gold during the 2nd quarter valued at $198,000.

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About Alio Gold

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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