Belo Sun Mining (TSE:BSX)
TSX:BSX
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Belo Sun Mining
(TSX:BSX)
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Rating:52Neutral
Price Target:
C$0.67
▼(-8.63% Downside)
Action:UpgradedDate:12/30/25
The score is held back primarily by weak financial performance (no revenue, ongoing losses, and continued cash burn) and a loss-driven valuation profile. This is partially offset by strong technical momentum (price above key moving averages with positive MACD) and a supportive financing event that may strengthen liquidity, albeit with dilution and governance risks.
Positive Factors
Low Leverage / Conservative Balance Sheet
Minimal debt materially reduces financial distress risk during the multi-year development phase. For a pre-production miner, low leverage preserves flexibility to structure project financing, limits interest burdens, and improves survival odds through permitting and engineering milestones.
Negative Factors
Pre-revenue with Persistent Losses
Ongoing operating and net losses mean the company lacks internal earnings to fund development. Over the coming months this elevates dependency on external capital, amplifies dilution risk, and impairs the company's ability to self-fund critical milestones before any production-generated cash flow exists.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage / Conservative Balance Sheet
Minimal debt materially reduces financial distress risk during the multi-year development phase. For a pre-production miner, low leverage preserves flexibility to structure project financing, limits interest burdens, and improves survival odds through permitting and engineering milestones.
Read all positive factors
Belo Sun Mining (BSX) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$593.19M
Dividend YieldN/A
Average Volume (3M)294.23K
Price to Earnings (P/E)―
Beta (1Y)1.81
Revenue GrowthN/A
EPS Growth32.22%
CountryCA
Employees40
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)0.00
Shares Outstanding470,784,030
10 Day Avg. Volume190,646
30 Day Avg. Volume294,226
Financial Highlights & Ratios
PEG Ratio0.16
Price to Book (P/B)1.91
Price to Sales (P/S)0.00
P/FCF Ratio-7.37
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$5.50Price Target Upside653.42% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.02
Revenue Forecast (FY)N/A
Belo Sun Mining Business Overview & Revenue Model
Company Description
Belo Sun Mining Corp., through its subsidiaries, operates as a gold exploration and development company in Brazil. Its flagship property is its 100% interest in the Volta Grande Gold project consisting of four mining concession applications, 11 ex...
How the Company Makes Money
Belo Sun Mining makes money through the exploration, development, and eventual production and sale of gold from its mining projects. The company's primary revenue stream is anticipated to come from the extraction and sale of gold once its Volta Gr...
Belo Sun Mining Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
58
Neutral
Cash Flow
27
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -36.98K | -38.00K | -144.00K | -46.87K | -59.50K | -97.46K |
| EBITDA | -8.70M | -7.25M | -10.57M | -13.30M | -6.12M | -5.39M |
| Net Income | -8.57M | -7.29M | -10.72M | -13.35M | -6.21M | -5.49M |
Balance Sheet | ||||||
| Total Assets | 18.24M | 23.34M | 26.81M | 36.74M | 48.40M | 54.49M |
| Cash, Cash Equivalents and Short-Term Investments | 6.38M | 10.88M | 15.10M | 17.58M | 23.96M | 30.01M |
| Total Debt | 0.00 | 0.00 | 0.00 | 8.92K | 23.09K | 40.13K |
| Total Liabilities | 2.05M | 3.11M | 1.72M | 1.50M | 1.85M | 3.65M |
| Stockholders Equity | 16.19M | 20.23M | 25.09M | 35.24M | 46.55M | 50.84M |
Cash Flow | ||||||
| Free Cash Flow | -5.26M | -5.25M | -4.67M | -9.90M | -5.90M | -4.37M |
| Operating Cash Flow | -5.10M | -5.24M | -4.62M | -9.89M | -5.89M | -4.36M |
| Investing Cash Flow | 428.77K | -9.00K | 1.90M | 3.53M | -3.92K | 5.07M |
| Financing Cash Flow | 1.15M | 1.16M | -9.65K | -117.67K | -16.77K | 1.21M |
Belo Sun Mining Technical Analysis
Positive
0.73
Price Trends
0.97
Positive
0.73
Positive
0.51
Positive
Market Momentum
0.08
Positive
60.43
Neutral
55.42
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:BSX, the sentiment is Positive. The current price of 0.73 is below the 20-day moving average (MA) of 1.25, below the 50-day MA of 0.97, and above the 200-day MA of 0.51, indicating a bullish trend. The MACD of 0.08 indicates Positive momentum. The RSI at 60.43 is Neutral, neither overbought nor oversold. The STOCH value of 55.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:BSX.
Belo Sun Mining Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
56 Neutral | C$327.72M | -77.48 | -2.03% | ― | ― | -40.00% | |
52 Neutral | C$593.19M | -26.65 | -47.48% | ― | ― | 32.22% | |
50 Neutral | C$827.23M | -5.58 | -45.51% | ― | ― | -141.86% | |
43 Neutral | C$219.50M | -8.26 | -22.99% | ― | ― | 15.32% |
* Basic Materials Sector Average
TSE:BSX
Belo Sun Mining
1.30
1.12
622.22%
TSE:GRZ
Gold Reserve
5.55
2.95
113.46%
TSE:STLR
STLLR Gold
1.49
0.42
39.25%
TSE:WGO
White Gold
1.48
1.26
557.78%
TSE:CERT
Cerrado Gold
1.52
1.05
223.40%
Belo Sun Mining Corporate Events
Business Operations and StrategyLegal ProceedingsRegulatory Filings and Compliance
Belo Sun License Remains Suspended as Brazilian Court Rejects Compliance Request
Negative
Jan 15, 2026
Belo Sun Mining Corp. reported that a federal court in Altamira, Pará, has denied its request for recognition of provisional compliance with a prior appellate decision related to the Construction License for its Volta Grande Gold Project, lea...
Business Operations and StrategyPrivate Placements and FinancingShareholder Meetings
Belo Sun to Raise Up to US$30 Million in Private Placement Backed by La Mancha
Positive
Dec 22, 2025
Belo Sun Mining Corp. has announced a non-brokered private placement of common shares at C$0.43 per share to raise up to US$30 million (C$41.3 million), with closing targeted around February 24, 2026, subject to final approval from the Toronto Sto...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.