Scotiabank Remains a Hold on Alio Gold Inc

By Ryan Adsit

Alio Gold Inc (TSX: ALO), the NA sector company was revisited on May 12, yet the Wall Street analyst remains currently on the sidelines. Analyst Ovais Habib from Scotiabank reiterated a Hold rating, with a C$0.80 price target on May 12.

According to TipRanks.com, Habib is a 4-star analyst with an average return of 14.5% and a 42.5% success rate. Habib covers the Basic Materials sector, focusing on stocks such as Primero Mining Corp, Pretium Resources, and Timmins Gold Corp.

Alio Gold Inc has an analyst consensus of Hold, with a price target consensus of C$7.50.

Based on Alio Gold Inc’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$42.76 million and quarterly net profit of C$8 million. In comparison, last year the company earned revenue of C$39.3 million and had a GAAP net loss of C$14.73 million.

Timmins Gold Corp. is an intermediate gold company, which engages in the operation, development, exploration, and acquisition of resource properties. It owns and operates San Francisco open pit gold mine. The company was founded by Francisco Arturo Bonillas Zepeda and Bruce Bragagnolo on March 17, 2005 and is headquartered in Vancouver, Canada.

The company’s shares closed last Wednesday at $6.14.