First Manhattan Co. Acquires 354,250 Shares of Alio Gold Inc (ALO)
First Manhattan Co. lifted its holdings in Alio Gold Inc (NYSEAMERICAN:ALO) by 41.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,204,250 shares of the company’s stock after purchasing an additional 354,250 shares during the quarter. First Manhattan Co.’s holdings in Alio Gold were worth $1,011,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of ALO. Citadel Advisors LLC purchased a new position in Alio Gold during the third quarter worth $189,000. U S Global Investors Inc boosted its stake in Alio Gold by 43.4% during the third quarter. U S Global Investors Inc now owns 1,232,923 shares of the company’s stock worth $983,000 after buying an additional 372,923 shares during the period. Renaissance Technologies LLC boosted its stake in Alio Gold by 7.2% during the second quarter. Renaissance Technologies LLC now owns 1,438,580 shares of the company’s stock worth $2,100,000 after buying an additional 96,000 shares during the period. Finally, Donald Smith & CO. Inc. boosted its stake in Alio Gold by 945.1% during the third quarter. Donald Smith & CO. Inc. now owns 6,440,309 shares of the company’s stock worth $5,137,000 after buying an additional 5,824,055 shares during the period.
Several research analysts have commented on ALO shares. Zacks Investment Research raised shares of Alio Gold from a “sell” rating to a “hold” rating in a research note on Monday, October 15th. Royal Bank of Canada lowered shares of Alio Gold from a “sector perform” rating to an “underperform” rating in a research note on Thursday, January 17th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Alio Gold has a consensus rating of “Hold” and a consensus target price of $2.00.
Alio Gold (NYSEAMERICAN:ALO) last released its earnings results on Thursday, November 8th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The firm had revenue of $27.94 million during the quarter.
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 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.
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