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Belo Sun Mining shares dropped 22%–35% on weak earnings and projected loss, despite insider buying and strong liquidity.
Belo Sun Mining (TSE:BSX) shares plunged between 22% and 35% on Thursday, hitting a low of C$0.40 and closing between C$0.47 and C$0.56, down from C$0.72, amid a surge in trading volume.
The company, a Canada-based gold explorer with the Volta Grande project in Brazil, reported zero earnings for its latest quarter and faces a projected loss of C$0.01 per share this year.
Despite the drop, insider purchases totaling 507,000 shares worth C$162,240 were made in the past three months, and the firm maintains strong liquidity with a debt-to-equity ratio of 0.01.
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Las acciones de Belo Sun Mining cayeron entre un 22% y un 35% debido a las débiles ganancias y las pérdidas proyectadas, a pesar de las compras internas y la fuerte liquidez.