Belo Sun Mining (TSE:BSX) Trading Down 25% – Here’s What Happened

Belo Sun Mining Corp (TSE:BSX) shares traded down 25% during trading on Thursday . The company traded as low as C$0.40 and last traded at C$0.54. 5,946,879 shares changed hands during trading, an increase of 473% from the average session volume of 1,037,684 shares. The stock had previously closed at C$0.72.

Belo Sun Mining Trading Down 22.2%

The firm has a 50-day moving average of C$0.50 and a 200 day moving average of C$0.37. The company has a market cap of C$263.64 million, a P/E ratio of -28.00, a price-to-earnings-growth 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 issued its earnings results on Thursday, November 6th. The company reported C$0.00 earnings per share (EPS) for the quarter. On average, analysts predict that Belo Sun Mining Corp will post -0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Yousriya Loza acquired 119,000 shares of Belo Sun Mining stock in a transaction on Wednesday, November 5th. The stock was purchased at an average price of C$0.32 per share, with a total value of C$38,080.00. Following the completion of the purchase, the insider 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 La Mancha Investments S.À R.L. acquired 119,000 shares of the company’s stock in a transaction 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 completion of the purchase, the insider directly owned 88,322,807 shares of the company’s stock, valued at approximately C$28,263,298.24. This represents a 0.13% increase in their position. Over the last quarter, insiders have bought 507,000 shares of company stock worth $162,240. Corporate insiders own 3.08% of the company’s stock.

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.