Erdene Resource Development (TSE:ERD) Stock Passes Above 50-Day Moving Average – Time to Sell?

Erdene Resource Development Co. (TSE:ERD) passed 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 trading hands.

Erdene Resource Development Stock Performance

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 stock has a market capitalization of C$233.58 million, a PE ratio of -33.50 and a beta of 1.63. The firm’s 50 day moving average is C$0.56 and its two-hundred day moving average is C$0.47.

Insider Activity

In related news, insider 2176423 Ontario Ltd. bought 234,000 shares of the 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. 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.