Belo Sun Mining (TSE:BSX) Trading Down 9.8% – What’s Next?

Belo Sun Mining Corp (TSE:BSX) shares fell 9.8% on Tuesday . The company traded as low as C$0.18 and last traded at C$0.19. 48,653 shares changed hands during trading, a decline of 91% from the average session volume of 570,579 shares. The stock had previously closed at C$0.21.

Belo Sun Mining Stock Performance

The firm has a market cap of C$79.64 million, a PE ratio of -8.75, a PEG ratio of -0.33 and a beta of 2.24. 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 firm’s 50 day simple moving average is C$0.16 and its 200 day simple moving average is C$0.09.

Insiders Place Their Bets

In related news, insider La Mancha Capital Management GP purchased 256,230 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were acquired at an average price of C$0.21 per share, for a total transaction of C$54,628.24. Also, Director Mark Price Eaton sold 298,500 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of C$0.25, for a total transaction of C$73,878.75. Corporate insiders own 3.08% of the company’s stock.

About Belo Sun Mining

Belo Sun Mining Corp., through its subsidiaries, operates as a gold exploration and development company in Brazil. The company's primary project is the 100% owned Volta Grande Gold project consisting of 4 mining concession applications, 7 exploration permits, 62 exploration permits extension submitted, and 4 ratification submitted covering a total area of 155.032.61 hectares located in the northern region of Pará State, Brazil.