Alio Gold (ALO) Shares Up -0.8%

Alio Gold Inc (TSE:ALO)’s share price shot up 0.8% during trading on Wednesday . The company traded as high as C$3.99 and last traded at C$3.89. 110,325 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 160,849 shares. The stock had previously closed at C$3.92.

A number of research firms have commented on ALO. BMO Capital Markets reaffirmed a “market perform” rating and issued a C$6.00 price objective on shares of Alio Gold in a report on Friday, October 6th. National Bank Financial reaffirmed an “outperform” rating on shares of Alio Gold in a report on Tuesday, October 17th. Scotiabank reaffirmed a “sector perform” rating and issued a C$7.50 price objective on shares of Alio Gold in a report on Friday, November 10th. Finally, Raymond James Financial decreased their price objective on shares of Alio Gold from C$9.50 to C$7.25 and set an “underperform” rating for the company in a report on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Alio Gold currently has a consensus rating of “Hold” and an average target price of C$7.65.

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Alio Gold Company Profile

Alio Gold Inc, through its subsidiaries, engages in the acquisition, exploration, development, and operation of mineral resource properties in Mexico. It primarily explores for gold deposits. The company holds a 100 % interest in the Ana Paula Property in Guerrero, Mexico. The company was formerly known as Timmins Gold Corp.

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