Erdene Resource Development (TSE:ERD) Shares Cross Above 50 Day Moving Average – What’s Next?

Erdene Resource Development Co. (TSE:ERD) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$0.68 and traded as high as C$0.82. Erdene Resource Development shares last traded at C$0.82, with a volume of 530,310 shares changing hands.

Erdene Resource Development Price Performance

The firm has a market cap of C$293.07 million, a PE ratio of -325.64 and a beta of 1.63. The business’s 50 day moving average price is C$0.68 and its 200 day moving average price is C$0.63.

Insider Activity

In other Erdene Resource Development news, insider 2176423 Ontario Ltd. acquired 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was bought at an average price of C$0.66 per share, with a total value of C$66,480.00. Also, Director David Vaughn Mosher sold 50,000 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of C$0.79, for a total transaction of C$39,500.00. Insiders have bought a total of 1,785,500 shares of company stock worth $1,230,428 over the last quarter. 22.51% of the stock is currently owned by corporate insiders.

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.