Shares of Alio Gold Inc (NYSEAMERICAN:ALO) were down 7.7% during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $0.71 and last traded at $0.72. Approximately 502,143 shares traded hands during mid-day trading, an increase of 131% from the average daily volume of 217,655 shares. The stock had previously closed at $0.78.
The company reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.02). The firm had revenue of $27.94 million during the quarter.
Several equities research analysts recently weighed in on ALO shares. Zacks Investment Research lowered Alio Gold from a “hold” rating to a “sell” rating in a report on Thursday, July 26th. Clarus Securities lowered Alio Gold from a “buy” rating to a “hold” rating in a report on Monday, August 13th. Four equities research analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and a consensus target price of $2.00.
About Alio Gold (NYSEAMERICAN:ALO)
Alio Gold Inc, through its subsidiaries, engages in the acquisition, exploration, development, and operation of mineral resource properties in Mexico. It primarily sells gold and silver. The company's principal assets include its 100% owned and operating San Francisco open-pit, heap leach gold mine in Sonora, Mexico; and its 100%-owned development stage Ana Paula Project in Guerrero, Mexico.
Receive News & Ratings for Alio Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alio Gold and related companies with MarketBeat.com's FREE daily email newsletter.