Alio Gold Inc. (NYSE:ALO) is among the top gainers of the stock market today, skyrocketing 5.9% or (0.03 points) to $0.64 from its previous close of $0.61. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 216080 contracts so far this session. ALO shares had a relatively better volume day versus average trading capacity of 120.66 thousand shares, but with a 81.86 million float and a 1.8% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ALO stock indicates that the average analyst price target is $5.47 per share. This means the stock has a potential increase of 754.69% from where the ALO share price has been trading recently which is between $0.6 and $0.61. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $0.68. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $1.9.
During the recent trading session for Alio Gold Inc. (NYSE:ALO), the company witnessed their stock rise $0.05 over a week and surge $unch from the price 20 days ago. When compared to their established 52-week high of $1.07, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 01/04/19. The recent low of $0.51 stood for a -40.09% since 05/29/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for ALO is set at $1.29, a figure which is above the recent 1-year high the stock witnessed.
Looking at the current readings for Alio Gold Inc., the two-week RSI stands at 60.93. This figure suggests that ALO stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current ALO readings is similarly very revealing as it has a stochastic reading of 68.63% at this stage. This figure means that ALO share price today is being neutral.
Technical chart claims that Alio Gold Inc. (ALO) would settle between $0.61/share to $0.62/share level. However, if the stock price goes below the $0.6 mark, then the market for Alio Gold Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.59 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.01. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at RBC Capital Mkts lowered their recommendation on shares of ALO from Sector Perform to Underperform in their opinion released on January 17. Raymond James analysts bumped their rating on Alio Gold Inc. (NYSE:ALO) stock from Underperform to Mkt Perform in a separate flash note issued to investors on March 23.
ALO equity has an average rating of 5, with the figure leaning towards a bullish end. 1 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 1 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 1 analysts rated Alio Gold Inc. (NYSE:ALO) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, ALO stock price is currently trading at 1.51X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 50.6. Alio Gold Inc. current P/B ratio of 0.4 means it is trading at a discount against its industry’s 1.9.