Belo Sun Mining (TSE:BSX) Stock Price Down 29.2% – Here’s Why

Belo Sun Mining Corp (TSE:BSX) dropped 29.2% during mid-day trading on Thursday . The company traded as low as C$0.40 and last traded at C$0.51. Approximately 2,332,709 shares were traded during trading, an increase of 355% from the average daily volume of 512,179 shares. The stock had previously closed at C$0.72.

Belo Sun Mining Trading Down 30.6%

The company has a current ratio of 4.52, a quick ratio of 13.04 and a debt-to-equity ratio of 0.01. The company has a market cap of C$235.39 million, a P/E ratio of -25.00, a PEG ratio of -0.33 and a beta of 0.98. The stock’s 50 day moving average is C$0.50 and its 200-day moving average is C$0.37.

Belo Sun Mining (TSE:BSX) last issued its earnings results on Thursday, November 6th. The company reported C$0.00 EPS for the quarter. Research analysts anticipate 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 the company’s stock in a transaction on Wednesday, November 5th. The shares were acquired at an average cost of C$0.32 per share, with a total value of C$38,080.00. Following the completion of the transaction, 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. Also, insider La Mancha Capital Management Gp acquired 119,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was acquired at an average cost of C$0.32 per share, for a total transaction of C$38,080.00. Following the acquisition, the insider owned 88,322,807 shares of the company’s stock, valued at C$28,263,298.24. The trade was a 0.13% increase in their position. Over the last 90 days, insiders bought 507,000 shares of company stock worth $162,240. 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.