Zacks Investment Research upgraded shares of Alio Gold Inc (NYSE:ALO) from a sell rating to a buy rating in a report published on Tuesday, July 18th. They currently have $5.00 price objective on the stock.
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. “
Alio Gold (ALO) traded up 3.436% on Tuesday, hitting $4.365. The company had a trading volume of 64,673 shares. The stock has a market cap of $155.23 million and a P/E ratio of 2.982. The firm’s 50 day moving average price is $4.82 and its 200 day moving average price is $4.22. Alio Gold has a 12-month low of $0.45 and a 12-month high of $6.28.
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A hedge fund recently bought a new stake in Alio Gold stock. Acadian Asset Management LLC purchased a new position in Alio Gold Inc (NYSE:ALO) during the second quarter, according to its most recent filing with the SEC. The institutional investor purchased 346,522 shares of the company’s stock, valued at approximately $1,566,000. Acadian Asset Management LLC owned 0.97% of Alio Gold as of its most recent filing with the SEC.
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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