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Belo Sun Mining Corp. (BSX) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Belo Sun Mining Corp. stock C$0.49, price C$0.79, that is 38.3% below the price, quality 37 out of 100. Rating: strongly overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Basic Materials CA · ISIN CA0805581091

BS Belo Sun Mining Corp. logo Thin data Nov 11, 2026

Belo Sun Mining Corp.

BSX · TO
Very expensive, weak quality

Our calculation puts a fair price 38% below what the stock costs today.

Fair value C$0.4874 · Strongly overvalued
Quality 37/100
Weak Growth (revenue 3y −64.9 %/yr in CAD)
Negative free cash flow
Trails peers (0/7)
Narrow moat 6/100 · thin data
Thin data
⟳ CyclicalEstimate
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

C$1.64 C$0.0350 Fair Value C$0.4874 Jul 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 11, 2026.

How to read this chart

60‑month range C$0.0350 – C$1.64 · fair‑value band C$0.3655 – C$0.6092 · the C$0.7900 price screens above the C$0.4874 fair value. As of Nov 11, 2026.

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Company profile

Belo Sun Mining Corp, through its subsidiaries, operates as a gold exploration and development company in Brazil.

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Its principal asset is the 100% owned Volta Grande Gold project, which comprises four mining concession applications, three rights to apply for a mining concession, 64 exploration permits extensions submitted, and six ratifications submitted, covering a total area of 154,850.64 hectares located in the Três Palmeiras greenstone belt in the northern region of Pará State.

The company was formerly known as Verena Minerals Corporation and changed its name to Belo Sun Mining Corp in July 2010. Belo Sun Mining Corp was incorporated in 1996 and is headquartered in Toronto, Canada.

Stock analysis

Belo Sun Mining Corp. (BSX) currently trades at C$0.7900, while our estimate is C$0.4874, 38% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: C$0.3655 (bear) to C$0.6092 (bull), the price of C$0.7900 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 37/100 (below-average quality), in the Basic Materials sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Belo Sun Mining Corp. reported revenue of C$0 in FY2025 versus C$0 in FY2021. Reported net income was −C$9.8M in FY2025.

Key figures

Market cap C$449M (≈ $316M) Small · EPS (TTM) C$−0.0300 · Return on equity −41.1% · Return on assets (EBIT) −38.6% (5-year average) · Free cash flow −C$6.6M · Net cash C$4.7M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 6 out of 100 (low confidence).

What moves the price

The share trades about 52% below its 52-week high and 132% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −13% fair-value upside, at −38%, BSX screens richer than that median.

Fair Value

Bear C$0.3655 Fair Value C$0.4874 Bull C$0.6092
Price C$0.7900 · Downside -38.3%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 37/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 25
Are margins and returns getting better?
Cashflow 12
Do the profits arrive as real cash?
Financial strength 100
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 0
How calm the share price moves, does not count
Price momentum 35
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 67
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−89.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−64.9%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−446.9% (1997) → −34,973.4% (2000)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

BSX screens overvalued: fair value 38% below the price. Compare with Newmont Corporation →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Gold · 286 stocks

Beats the industry median on 0/6 measures
Overall it trails its industry peers.
Valuation
Quality Score 37 · Below median
Fair Value upside −38.3% · Below median
Profitability
Return on assets −61.5% · Bottom 25%
Operating margin (12 months) 0.0% · Below median
Growth and dividend
Revenue growth (quarter YoY) 0.0% · Below median

Valuation Multiplesvs Gold median · lower = cheaper

P/B 22.65× · Priciest 25%

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Gold stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Agnico Eagle Mines Limited AEM $190.46 $220.88 +16% vs BSX
Newmont Corporation NEM $119.96 $137.68 +15% vs BSX
Royal Gold, Inc RGLD $274.57 $259.27 −6% vs BSX
AngloGold Ashanti plc AU $93.85 $88.58 −6% vs BSX
Shandong Gold Mining Co 600547 ¥27.00 ¥23.61 −13% vs BSX
Kinross Gold Corporation KGC $21.53 $18.00 −16% vs BSX
Franco-Nevada Corporation FNV $255.79 $212.28 −17% vs BSX
Wheaton Precious Metals Corp WPM $136.62 $87.64 −36% vs BSX
Northern Star Resources Limited NST A$26.73 A$16.87 −37% vs BSX
Zijin Mining Group 601899 ¥28.18 ¥15.62 −45% vs BSX

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Belo Sun Mining Corp.: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Belo Sun Mining Corp. Fair Value". https://www.fairvalue-calculator.com/stock/BSX.TO

Frequently asked questions

Is Belo Sun Mining Corp. (BSX) overvalued or undervalued?
As of Nov 11, 2026, our estimate of fair value is C$0.4874 versus a price of C$0.7900, about 38% lower (overvalued).
What is the fair value of BSX?
Our estimate for Belo Sun Mining Corp. is C$0.4874 (as of Nov 11, 2026), built from audited fundamentals. The current price: C$0.7900.
What is the quality score of BSX?
Belo Sun Mining Corp. has a Quality Score of 37/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Belo Sun Mining Corp. (BSX)?
Our calculated price target is the estimate of C$0.4874 (as of Nov 11, 2026). Cautious scenario C$0.3655, optimistic scenario C$0.6092. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Belo Sun Mining Corp. stock forecast for 2026?
Our estimate puts fair value at C$0.4874, about 38% lower versus a price of C$0.7900 (overvalued). Cautious scenario C$0.3655, optimistic scenario C$0.6092. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Belo Sun Mining Corp. (BSX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Belo Sun Mining Corp. it is C$0.4874 per share (as of Nov 11, 2026), against a price of C$0.7900.
Is Belo Sun Mining Corp. stock overvalued or undervalued in 2026?
As of Nov 11, 2026, BSX trades above its calculated fair value: price C$0.7900, fair value C$0.4874, a gap of about −38% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of BSX?
No. The price is what the market pays today (C$0.7900); the fair value is what the company's own numbers justify (C$0.4874). For Belo Sun Mining Corp. the two are C$0.3026 per share apart. That gap is exactly why we show both numbers side by side.
How much is Belo Sun Mining Corp. worth?
The market values Belo Sun Mining Corp. at about C$449M (market capitalisation, as of Nov 11, 2026). Per share that is C$0.7900; our models calculate a fair value of C$0.4874 per share.
What do the bullish and bearish scenarios say about BSX?
Our models span a range for Belo Sun Mining Corp.: cautious scenario C$0.3655, base C$0.4874, optimistic C$0.6092 per share (as of Nov 11, 2026, price C$0.7900). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Belo Sun Mining Corp. (BSX)?
Balance-sheet figures for Belo Sun Mining Corp. (as of Nov 11, 2026): return on equity −41.1%. They feed the Quality Score of 37/100, which measures business quality independently of the share price.
How far is BSX from its 52-week high?
Belo Sun Mining Corp. trades at C$0.7900, about 52% below its 52-week high of C$1.64 and 132% above the low of C$0.3400 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of C$0.4874 is for.
Which stocks are comparable to Belo Sun Mining Corp.?
From the same area (Basic Materials) we also value Newmont Corporation, Zijin Mining Group, Agnico Eagle Mines Limited, Wheaton Precious Metals Corp, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Belo Sun Mining Corp. stock attractive at the current price?
The data as of Nov 11, 2026: price C$0.7900, calculated fair value C$0.4874 (−38%), Quality Score 37/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Belo Sun Mining Corp. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Belo Sun Mining Corp. (BSX)?
The closing price on Nov 10, 2026 was C$0.7900. Our estimate is C$0.4874, about 38% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Belo Sun Mining Corp. right now?
The price sits above even our optimistic bull case (C$0.6092). The favourable scenario is already priced in. Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Belo Sun Mining Corp.

How large is the market capitalisation of Belo Sun Mining Corp. (BSX)?
The market capitalisation of Belo Sun Mining Corp. is C$449M (≈ $316M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of Belo Sun Mining Corp. (BSX)?
Earnings per share at Belo Sun Mining Corp. are C$−0.0300. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Belo Sun Mining Corp. (BSX)?
The return on equity (ROE) of Belo Sun Mining Corp. is −41.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Belo Sun Mining Corp. (BSX)?
On an EBIT basis the return on assets of Belo Sun Mining Corp. is −38.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
How much free cash flow does Belo Sun Mining Corp. (BSX) generate?
The free cash flow of Belo Sun Mining Corp. is −C$6.6M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Belo Sun Mining Corp. (BSX) hold?
Belo Sun Mining Corp. holds more cash than debt, C$4.7M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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