Erdene Resource Development (TSE:ERD) Stock Price Passes Below 200-Day Moving Average – Time to Sell?

Erdene Resource Development Co. (TSE:ERD) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$0.53 and traded as low as C$0.53. Erdene Resource Development shares last traded at C$0.54, with a volume of 47,000 shares changing hands.

Erdene Resource Development Price Performance

The company’s 50 day moving average price is C$0.62 and its 200 day moving average price is C$0.53. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.27 and a current ratio of 8.64. The company has a market cap of C$188.26 million, a price-to-earnings ratio of -27.00 and a beta of 1.63.

Insider Buying and Selling at Erdene Resource Development

In other Erdene Resource Development news, insider 2176423 Ontario Ltd. purchased 234,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was purchased at an average cost of C$0.67 per share, with a total value of C$157,271.40. Company 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.