Belo Sun Mining (TSE:BSX) Shares Down 7.6% – Here’s Why

Belo Sun Mining Corp (TSE:BSX) shares fell 7.6% during mid-day trading on Wednesday. The company traded as low as C$0.72 and last traded at C$0.73. Approximately 369,738 shares were traded during trading, a decline of 53% from the average session volume of 780,610 shares. The stock had previously closed at C$0.79.

Belo Sun Mining Price Performance

The company has a fifty day moving average of C$1.09 and a 200 day moving average of C$1.14. The firm has a market capitalization of C$392.08 million, a P/E ratio of -23.00, a PEG ratio of -0.33 and a beta of 2.31. 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 Wednesday, November 4th. The company reported C($0.01) earnings per share for the quarter. Sell-side analysts predict that Belo Sun Mining Corp will post -0.01 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Ian Pritchard sold 66,666 shares of the company’s stock in a transaction dated Monday, October 19th. The shares were sold at an average price of C$1.16, for a total value of C$77,332.56. Following the sale, the insider owned 539,435 shares in the company, valued at C$625,744.60. This represents a 11.00% decrease in their position. Also, insider Kenny Choi sold 50,000 shares of Belo Sun Mining stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of C$1.56, for a total value of C$78,000.00. Following the transaction, the insider directly owned 50,000 shares in the company, valued at approximately C$78,000. The trade was a 50.00% decrease in their position. Over the last 90 days, insiders have sold 236,666 shares of company stock worth $346,133. Insiders own 3.08% of the company’s stock.

Belo Sun Mining Company Profile

Belo Sun is a Canadian-based mining company with a portfolio of gold-focused properties in Brazil. The Company is currently focused on the development of the Volta Grande Gold Project. Belo Sun trades on the Toronto Stock Exchange under the symbol ‘BSX’ and on the OTCQX under the symbol ‘BSXGF’. For more information, please visit www.belosun.com or contact Investor Relations at [email protected] or 1-888-516-4171.