Belo Sun Mining (TSE:BSX) Stock Price Down 2.3% - What's Next?

Belo Sun Mining Corp (TSE:BSX) saw a decline in its stock price by 2.3% on Thursday. The stock traded at a low of C$0.21 and closed at the same price. During the trading session, 72,452 shares changed hands, which represents a substantial decrease of 89% compared to the average trading volume of 652,006 shares. The previous closing price was recorded at C$0.22.

Belo Sun Mining Stock Performance

The company currently reports a current ratio of 4.52 and a quick ratio of 13.04, indicating a solid position regarding liquidity. Its debt-to-equity ratio stands at an extremely low value of 0.01. The 50-day moving average price is C$0.13, while the 200-day moving average price is C$0.08. Belo Sun Mining has a market capitalization of C$95.56 million, and its price-to-earnings ratio is -10.50, illustrating that the company is currently unprofitable. Moreover, the PEG ratio is also negative at -0.33, and the stock has a beta of 2.24, suggesting higher volatility compared to the market.

Insiders Place Their Bets

In recent news regarding insider trading, Director Mark Price Eaton sold a significant number of shares—298,500 shares—on January 30th, at an average price of C$0.25, totaling approximately C$73,878.75. Additionally, insider La Mancha Capital Management GP acquired 256,230 shares on January 27th at an average price of C$0.21 per share, which led to a total transaction value of around C$54,628.24. It is worth noting that corporate insiders own about 3.08% of the company's stock.

About Belo Sun Mining

Belo Sun Mining Corp. operates as a gold exploration and development company primarily in Brazil. The cornerstone of its operations is the Volta Grande Gold project, which is wholly owned by the company. This project encompasses four mining concession applications along with seven exploration permits. The firm has various exploration permits and extensions pending, covering a total area of approximately 155,032.61 hectares situated in Brazil's northern Pará State.

Should You Invest $1,000 in Belo Sun Mining Right Now?

Before considering an investment in Belo Sun Mining, it's essential to take note of analyses from various Wall Street experts. Presently, Belo Sun Mining maintains a “Hold” rating among analysts. However, some research analysts believe other stocks offer better investment opportunities at the moment. Therefore, potential investors should conduct thorough research prior to making any decisions.

Belo, Mining, Stocks