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

Belo Sun Mining Corp (TSE:BSX)’s share price dropped 22.2% on Thursday . The company traded as low as C$0.40 and last traded at C$0.56. Approximately 6,210,879 shares were traded during mid-day trading, an increase of 499% from the average daily volume of 1,037,684 shares. The stock had previously closed at C$0.72.

Belo Sun Mining Stock Down 22.2%

The firm 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 company has a 50-day simple moving average of C$0.50 and a 200-day simple moving average of C$0.37. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.52 and a quick ratio of 13.04.

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

Insider Activity

In other news, insider La Mancha Investments S.À R.L. purchased 119,000 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was purchased at an average price of C$0.32 per share, for a total transaction of C$38,080.00. Following the completion of the acquisition, the insider owned 88,322,807 shares of the company’s stock, valued at approximately C$28,263,298.24. This trade represents a 0.13% increase in their ownership of the stock. Also, insider La Mancha Capital Management Gp purchased 119,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately C$28,263,298.24. This trade represents a 0.13% increase in their position. Over the last ninety days, insiders purchased 507,000 shares of company stock valued at $162,240. 3.08% of the stock is currently owned by company insiders.

Belo Sun Mining Company Profile

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.