Belo Sun Mining (TSE:BSX) Shares Down 22.2% – Here’s What Happened

Shares of Belo Sun Mining Corp (TSE:BSX) fell 22.2% during mid-day trading on Thursday . The company traded as low as C$0.40 and last traded at C$0.56. 6,299,879 shares traded hands during trading, an increase of 479% from the average session volume of 1,088,284 shares. The stock had previously closed at C$0.72.

Belo Sun Mining Stock Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 13.04 and a current ratio of 4.52. The stock has a market cap of C$263.64 million, a PE ratio of -28.00, a price-to-earnings-growth ratio of -0.33 and a beta of 0.98. The firm has a fifty day moving average price of C$0.50 and a 200 day moving average price of C$0.37.

Belo Sun Mining (TSE:BSX) last announced its earnings results on Thursday, November 6th. The company reported C$0.00 earnings per share (EPS) for the quarter. Research analysts forecast that Belo Sun Mining Corp will post -0.01 earnings per share for the current fiscal year.

Insider Activity at Belo Sun Mining

In other news, insider La Mancha Investments S.À R.L. bought 119,000 shares of Belo Sun Mining stock in a transaction that occurred on Wednesday, November 5th. The stock was bought at an average price of C$0.32 per share, for a total transaction of C$38,080.00. Following the purchase, the insider directly owned 88,322,807 shares of the company’s stock, valued at approximately C$28,263,298.24. The trade was a 0.13% increase in their position. Also, insider Yousriya Loza purchased 119,000 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were purchased at an average price of C$0.32 per share, for a total transaction of C$38,080.00. Following the purchase, the insider owned 88,322,807 shares in the company, valued at approximately C$28,263,298.24. The trade was a 0.13% increase in their position. Insiders purchased 507,000 shares of company stock valued at $162,240 in the last three months. 3.08% of the stock is owned by insiders.

About Belo Sun Mining

Belo Sun Mining Corp is a Canada-based gold exploration and development company. It operates in Canada where its head office is located and in Brazil where its exploration and development properties are located. The company owns and operates the Volta Grande Gold project.