Belo Sun Mining (TSE:BSX) Shares Down 10.4% – Here’s What Happened

Shares of Belo Sun Mining Corp (TSE:BSX) were down 10.4% on Wednesday. The stock traded as low as C$0.94 and last traded at C$1.03. Approximately 1,526,650 shares changed hands during mid-day trading, an increase of 95% from the average session volume of 783,521 shares. The stock had previously closed at C$1.15.

Belo Sun Mining Stock Performance

The company has a market capitalization of C$585.28 million, a PE ratio of -51.50, a price-to-earnings-growth ratio of -0.33 and a beta of 2.48. The stock’s fifty day simple moving average is C$1.30 and its 200-day simple moving average is C$1.22. The company has a debt-to-equity ratio of 0.01, a quick ratio of 13.04 and a current ratio of 4.52.

Belo Sun Mining (TSE:BSX) last issued its quarterly earnings results on Wednesday, August 12th. The company reported C($0.01) EPS for the quarter. As a group, equities analysts predict that Belo Sun Mining Corp will post -0.01 earnings per share for the current year.

Insider Buying and Selling

In other Belo Sun Mining news, insider Kenny Choi sold 50,000 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of C$1.56, for a total value of C$78,000.00. Following the completion of 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. Also, insider Ian Pritchard sold 66,666 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider owned 539,435 shares of the company’s stock, valued at C$625,744.60. This trade represents a 11.00% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 236,666 shares of company stock worth $346,133. 3.08% of the stock is owned by insiders.

About Belo Sun Mining

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.