Belo Sun Mining (TSE:BSX) Trading 3.8% Higher - Here's What Happened

Key Points

• Belo Sun Mining Corp (TSE:BSX) experienced a 3.8% increase in stock price during mid-day trading, reaching C$0.31 before closing at C$0.27, with a trading volume increase of 23% from its average.
• Insiders, including La Mancha Investments S.à r.l., purchased a total of 4.7 million shares valued at approximately C$938,177 in recent transactions, indicating potential confidence in the company's future.
• The company operates primarily in Brazil, focusing on the Volta Grande Gold project, which encompasses a total area of approximately 155 hectares for gold exploration and development.

Belo Sun Mining Corp (TSE:BSX - Get Free Report) rose 3.8% on Tuesday . The stock traded as high as C$0.31 and last traded at C$0.27. Approximately 348,470 shares changed hands during trading, an increase of 23% from the average daily volume of 282,998 shares. The stock had previously closed at C$0.26.

Belo Sun Mining Stock Up 10.9%

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 has a market cap of C$116.04 million, a price-to-earnings ratio of -12.75, a PEG ratio of -0.33 and a beta of 2.24. The firm has a 50-day moving average of C$0.27 and a two-hundred day moving average of C$0.23.

Insider Buying and Selling

In other Belo Sun Mining news, insider Yousriya Loza-Sawiris purchased 836,500 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were acquired at an average cost of C$0.20 per share, for a total transaction of C$164,706.85. Also, insider La Mancha Investments S.à r.l. purchased 836,500 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were acquired at an average price of C$0.20 per share, for a total transaction of C$164,706.85. In the last quarter, insiders acquired 4,494,000 shares of company stock valued at $890,792. 3.08% of the stock is currently owned by corporate insiders.

Belo Sun Mining Company Profile

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.