Alio Gold Inc (ALO) Sees Significant Growth in Short Interest

Alio Gold Inc (NYSEAMERICAN:ALO) was the recipient of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 317,192 shares, a growth of 15.9% from the February 15th total of 273,687 shares. Based on an average daily trading volume, of 172,466 shares, the days-to-cover ratio is currently 1.8 days.

ALO has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Alio Gold from a “hold” rating to a “buy” rating and set a $3.50 target price on the stock in a research note on Tuesday, December 19th. TheStreet downgraded shares of Alio Gold from a “c-” rating to a “d+” rating in a research report on Tuesday, March 20th. UBS upgraded shares of Alio Gold from an “underperform” rating to a “market perform” rating in a research report on Friday, March 23rd. Finally, Raymond James Financial upgraded shares of Alio Gold from an “underperform” rating to a “market perform” rating in a research report on Friday, March 23rd. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $5.50.

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Alio Gold stock traded down $0.03 during mid-day trading on Monday, hitting $1.95. 137,000 shares of the company’s stock traded hands, compared to its average volume of 243,843. Alio Gold has a fifty-two week low of $1.70 and a fifty-two week high of $6.06.

Alio Gold (NYSEAMERICAN:ALO) last issued its quarterly earnings results on Wednesday, February 21st. The company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.02). The company had revenue of $20.59 million during the quarter.

Hedge funds have recently made changes to their positions in the company. Scotia Capital Inc. lifted its stake in shares of Alio Gold by 129.2% in the fourth quarter. Scotia Capital Inc. now owns 30,693 shares of the company’s stock worth $113,000 after acquiring an additional 17,300 shares during the period. Geode Capital Management LLC acquired a new position in shares of Alio Gold in the fourth quarter worth approximately $121,000. CIBC World Markets Inc. lifted its stake in shares of Alio Gold by 81.8% in the fourth quarter. CIBC World Markets Inc. now owns 38,000 shares of the company’s stock worth $139,000 after acquiring an additional 17,100 shares during the period. FMR LLC acquired a new position in Alio Gold in the second quarter valued at approximately $168,000. Finally, Royal Bank of Canada acquired a new position in Alio Gold in the second quarter valued at approximately $175,000.

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Alio Gold Company Profile

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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