Erdene Resource Development (TSE:ERD) Stock Crosses Above 50-Day Moving Average – Here’s What Happened

Erdene Resource Development Co. (TSE:ERD)’s stock price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$0.56 and traded as high as C$0.70. Erdene Resource Development shares last traded at C$0.67, with a volume of 320,773 shares traded.

Erdene Resource Development Stock Up 1.5 %

The company has a market capitalization of C$237.07 million, a P/E ratio of -34.00 and a beta of 1.63. The business’s fifty day moving average price is C$0.57 and its 200 day moving average price is C$0.47. The company has a current ratio of 8.64, a quick ratio of 4.27 and a debt-to-equity ratio of 0.01.

Insiders Place Their Bets

In related news, insider 2176423 Ontario Ltd. acquired 458,500 shares of the stock in a transaction dated Wednesday, September 25th. The shares were bought at an average cost of C$0.60 per share, for a total transaction of C$274,962.45. Corporate 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.