Belo Sun Mining (TSE:BSX) Shares Down 10.4% – Time to Sell?

Belo Sun Mining Corp (TSE:BSX) traded 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 trading, an increase of 95% from the average daily volume of 783,521 shares. The stock had previously closed at C$1.15.

Belo Sun Mining Trading Down 10.4%

The business has a 50 day simple moving average of C$1.30 and a 200-day simple moving average of C$1.22. 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 stock has a market capitalization of C$585.28 million, a price-to-earnings ratio of -51.50, a price-to-earnings-growth ratio of -0.33 and a beta of 2.48.

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

Insider Buying and Selling

In related news, insider Kenny Choi sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of C$1.56, for a total value of C$78,000.00. Following the completion of the sale, 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 ownership of the stock. Also, Director Clovis Torres Junior sold 120,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of C$1.59, for a total transaction of C$190,800.00. Over the last three months, insiders have sold 236,666 shares of company stock valued at $346,133. Insiders own 3.08% of the company’s stock.

Belo Sun Mining Company Profile

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.