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Belo Sun Mining
(TSX:BSX)
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Rating:51Neutral
Price Target:
C$1.50
▲(63.04% Upside)
Action:Reiterated
Date:08/19/26
The score is held down primarily by weak financial performance (no revenue, widening losses, and persistent negative free cash flow). This is partially offset by favorable technical momentum (price above key moving averages with positive MACD) and a low-debt balance sheet, while valuation remains challenging due to ongoing losses and no dividend yield provided.
Positive Factors
Low Financial Leverage
Near-zero debt limits refinancing and solvency pressure while the project is advanced, preserving financial flexibility relative to a highly leveraged developer. It does not remove the need for future external funding.
Negative Factors
No Revenue and Widening Losses
The absence of revenue and widening losses indicate that the company remains pre-revenue and has not yet demonstrated commercial viability. Sustained development spending without operating income increases dependence on successful project advancement.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Financial Leverage
Near-zero debt limits refinancing and solvency pressure while the project is advanced, preserving financial flexibility relative to a highly leveraged developer. It does not remove the need for future external funding.
Read all positive factors
Belo Sun Mining (BSX) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$705.95M
Dividend YieldN/A
Average Volume (3M)294.23K
Price to Earnings (P/E)―
Beta (1Y)1.94
Revenue GrowthN/A
EPS Growth-12.04%
CountryCA
Employees40
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.02
Shares Outstanding568,237,500
10 Day Avg. Volume190,646
30 Day Avg. Volume294,226
Financial Highlights & Ratios
PEG Ratio-1.08
Price to Book (P/B)18.13
Price to Sales (P/S)0.00
P/FCF Ratio-38.18
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.01
Revenue Forecast (FY)N/A
Belo Sun Mining Business Overview & Revenue Model
Company Description
Belo Sun Mining Corp., operating through its subsidiaries, specializes in the exploration and development of gold resources across Brazil. The company's principal asset is its entirely owned Volta Grande Gold project, a vast venture comprising fou...
How the Company Makes Money
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Belo Sun Mining Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
58
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -43.15K | -38.31K | -38.00K | -144.00K | -46.87K | -59.50K |
| EBITDA | -11.27M | -10.28M | -7.25M | -10.57M | -13.30M | -6.12M |
| Net Income | -11.00M | -9.79M | -7.29M | -10.72M | -13.35M | -6.21M |
Balance Sheet | ||||||
| Total Assets | 52.19M | 15.92M | 23.34M | 26.81M | 36.74M | 48.40M |
| Cash, Cash Equivalents and Short-Term Investments | 40.55M | 4.70M | 10.88M | 15.10M | 17.58M | 23.96M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 8.92K | 23.09K |
| Total Liabilities | 2.31M | 1.96M | 3.11M | 1.72M | 1.50M | 1.85M |
| Stockholders Equity | 49.88M | 13.96M | 20.23M | 25.09M | 35.24M | 46.55M |
Cash Flow | ||||||
| Free Cash Flow | -9.27M | -6.63M | -5.25M | -4.67M | -9.90M | -5.90M |
| Operating Cash Flow | -9.19M | -6.59M | -5.24M | -4.62M | -9.89M | -5.89M |
| Investing Cash Flow | 322.38K | 356.49K | -9.00K | 1.90M | 3.53M | -3.92K |
| Financing Cash Flow | 40.63M | -11.14K | 1.16M | -9.65K | -117.67K | -16.77K |
Belo Sun Mining Technical Analysis
Positive
0.92
Price Trends
1.06
Positive
1.19
Positive
0.96
Positive
Market Momentum
0.07
Negative
68.39
Neutral
79.60
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 0.92 is below the 20-day moving average (MA) of 1.13, below the 50-day MA of 1.06, and below the 200-day MA of 0.96, indicating a bullish trend. The MACD of 0.07 indicates Negative momentum. The RSI at 68.39 is Neutral, neither overbought nor oversold. The STOCH value of 79.60 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$250.36M | -13.78 | -19.03% | ― | ― | 38.12% | |
53 Neutral | C$419.26M | -91.40 | -3.60% | ― | ― | -57.14% | |
51 Neutral | C$705.95M | -64.02 | -33.19% | ― | ― | -12.04% | |
34 Underperform | C$949.12M | -16.27 | -46.93% | ― | ― | -43.51% |
* Basic Materials Sector Average
TSE:BSX
Belo Sun Mining
1.37
1.13
459.18%
TSE:GRZ
Gold Reserve
6.45
2.58
66.67%
TSE:STLR
STLLR Gold
1.87
1.04
125.30%
TSE:WGO
White Gold
2.02
1.57
343.96%
TSE:CERT
Cerrado Gold
2.47
1.59
180.68%
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.