Belo Sun Mining (TSE:BSX) Hits New 12-Month High Following Insider Buying Activity

Key Points

• Belo Sun Mining shares reached a new 52-week high of C$0.38 following significant insider buying activity on October 10th.
• Insider purchases included 216,000 shares at an average price of C$0.30 each, totaling C$64,800, which resulted in a 0.25% increase in ownership for each insider involved.
• The company currently has a market capitalization of C$171.84 million and a low debt-to-equity ratio of 0.01, indicating strong financial stability.

Belo Sun Mining Corp (TSE:BSX - Get Free Report)'s share price hit a new 52-week high on Wednesday following insider buying activity. The company traded as high as C$0.38 and last traded at C$0.37, with a volume of 617363 shares trading hands. The stock had previously closed at C$0.35.

Specifically, insider La Mancha Capital Management Gp bought 216,000 shares of the stock in a transaction on Friday, October 10th. The stock was purchased at an average price of C$0.30 per share, for a total transaction of C$64,800.00. Following the completion of the purchase, the insider directly owned 87,948,307 shares in the company, valued at approximately C$26,384,492.10. This trade represents a 0.25% increase in their ownership of the stock. Also, insider La Mancha Investments S.Ï¿½ R.L. purchased 216,000 shares of the stock in a transaction dated Friday, October 10th. The shares were purchased at an average price of C$0.30 per share, with a total value of C$64,800.00. Following the transaction, the insider directly owned 87,948,307 shares of the company's stock, valued at approximately C$26,384,492.10. The trade was a 0.25% increase in their position. In other news, insider Yousriya Loza purchased 216,000 shares of the stock in a transaction dated Friday, October 10th. The stock was acquired at an average price of C$0.30 per share, for a total transaction of C$64,800.00. Following the completion of the transaction, the insider owned 87,948,307 shares of the company's stock, valued at approximately C$26,384,492.10. The trade was a 0.25% increase in their ownership of the stock.

Belo Sun Mining Stock Up 4.3%

The company has a debt-to-equity ratio of 0.01, a quick ratio of 13.04 and a current ratio of 4.52. The company has a market capitalization of C$171.84 million, a price-to-earnings ratio of -18.25, a P/E/G ratio of -0.33 and a beta of 1.58. The stock's fifty day simple moving average is C$0.28 and its two-hundred day simple moving average is C$0.25.

About Belo Sun Mining

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.