Erdene Resource Development (TSE:ERD) Stock Price Passes Above Fifty Day Moving Average – What’s Next?

Erdene Resource Development Co. (TSE:ERD) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$0.52 and traded as high as C$0.72. Erdene Resource Development shares last traded at C$0.72, with a volume of 103,830 shares traded.

Erdene Resource Development Trading Up 2.9 %

The business has a fifty day moving average price of C$0.52 and a 200 day moving average price of C$0.45. The company has a market capitalization of C$251.01 million, a price-to-earnings ratio of -36.00 and a beta of 1.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.64 and a quick ratio of 4.27.

Insider Buying and Selling at Erdene Resource Development

In related news, insider 2176423 Ontario Ltd. acquired 234,000 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were bought at an average price of C$0.67 per share, for a total transaction of C$157,271.40. Insiders own 22.51% of the company’s stock.

Erdene Resource Development Company Profile

Erdene Resource Development Corporation focuses on the exploration and development of precious and base metal deposits in Mongolia. The company explores for copper, molybdenum, gold, silver, lead, and zinc deposits. The company was formerly known as Erdene Gold Inc and changed its name to Erdene Resource Development Corporation in May 2008.