Alio Gold (ALO) Shares Down 6.3%

Alio Gold Inc (TSE:ALO) shares fell 6.3% during trading on Tuesday . The company traded as low as C$3.64 and last traded at C$3.88. 121,205 shares traded hands during trading, a decline of 26% from the average session volume of 164,200 shares. The stock had previously closed at C$3.65.

A number of analysts recently weighed in on the stock. BMO Capital Markets raised shares of Alio Gold from an “underperform” rating to a “market perform” rating in a research note on Friday, August 11th. TD Securities decreased their price objective on shares of Alio Gold from C$11.50 to C$10.50 and set a “buy” rating on the stock in a research note on Friday, August 11th. National Bank Financial reaffirmed an “outperform” rating on shares of Alio Gold in a research note on Tuesday, October 17th. 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 on the stock in a research note on Tuesday, November 21st. Finally, Scotiabank reaffirmed a “sector perform” rating and set a C$7.50 price objective on shares of Alio Gold in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of C$6.51.

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About Alio Gold

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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