Belo Sun Mining (TSE:BSX) Trading 13% Higher After Insider Buying Activity

Belo Sun Mining Corp (TSE:BSX) shares traded up 13% during trading on Wednesday following insider buying activity. The stock traded as high as C$0.26 and last traded at C$0.26. 188,310 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 594,353 shares. The stock had previously closed at C$0.23.

Specifically, insider La Mancha Capital Management GP acquired 256,230 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were acquired at an average cost of C$0.21 per share, for a total transaction of C$54,628.24.

Belo Sun Mining Stock Performance

The stock’s 50 day moving average is C$0.08 and its two-hundred day moving average is C$0.06. The stock has a market capitalization of C$111.49 million, a price-to-earnings ratio of -12.25, a price-to-earnings-growth 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.

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.