Insider Buying: Erdene Resource Development Co. (TSE:ERD) Insider Purchases 234,000 Shares of Stock

Erdene Resource Development Co. (TSE:ERD) insider 2176423 Ontario Ltd. bought 234,000 shares of Erdene Resource Development stock in a transaction on Wednesday, October 2nd. The stock was purchased at an average price of C$0.67 per share, with a total value of C$157,271.40.

2176423 Ontario Ltd. also recently made the following trade(s):

• On Wednesday, September 25th, 2176423 Ontario Ltd. bought 458,500 shares of Erdene Resource Development stock. The shares were acquired at an average cost of C$0.60 per share, with a total value of C$274,962.45.

Erdene Resource Development Price Performance

TSE ERD traded down C$0.01 on Thursday, hitting C$0.70. The company had a trading volume of 290,496 shares, compared to its average volume of 154,995. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.64 and a quick ratio of 4.27. The company has a market capitalization of C$244.04 million, a PE ratio of -35.50 and a beta of 1.58. Erdene Resource Development Co. has a 12-month low of C$0.26 and a 12-month high of C$0.74. The company’s fifty day moving average price is C$0.47 and its 200-day moving average price is C$0.44.

About Erdene Resource Development

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.