Belo Sun Mining (TSE:BSX) Shares Down 34.7% – What’s Next?

Shares of Belo Sun Mining Corp (TSE:BSX) fell 34.7% during trading on Thursday . The company traded as low as C$0.40 and last traded at C$0.47. 3,867,535 shares changed hands during mid-day trading, an increase of 484% from the average session volume of 662,664 shares. The stock had previously closed at C$0.72.

Belo Sun Mining Stock Down 26.4%

The firm’s 50-day moving average price is C$0.50 and its 200 day moving average price is C$0.37. The company has a market capitalization of C$249.52 million, a price-to-earnings ratio of -26.50, a PEG ratio of -0.33 and a beta of 0.98. The company has a current ratio of 4.52, a quick ratio of 13.04 and a debt-to-equity ratio of 0.01.

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

Insider Buying and Selling

In other news, insider La Mancha Capital Management Gp acquired 119,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The shares were bought at an average price of C$0.32 per share, with a total value of C$38,080.00. Following the acquisition, the insider directly owned 88,322,807 shares in the company, valued at C$28,263,298.24. The trade was a 0.13% increase in their position. Also, insider Yousriya Loza bought 119,000 shares of the stock in a transaction on Wednesday, November 5th. The stock was purchased at an average cost of C$0.32 per share, with a total value of C$38,080.00. Following the acquisition, the insider owned 88,322,807 shares in the company, valued at approximately C$28,263,298.24. This represents a 0.13% increase in their ownership of the stock. Insiders purchased a total of 507,000 shares of company stock worth $162,240 in the last three months. 3.08% of the stock is owned by corporate 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.