Erdene Resource Development (TSE:ERD) Shares Pass Above 200-Day Moving Average – What’s Next?

Shares of Erdene Resource Development Co. (TSE:ERD) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$0.52 and traded as high as C$0.56. Erdene Resource Development shares last traded at C$0.55, with a volume of 80,298 shares traded.

Erdene Resource Development Price Performance

The stock has a market cap of C$191.75 million, a P/E ratio of -27.50 and a beta of 1.63. The business has a 50 day simple moving average of C$0.63 and a 200-day simple moving average of C$0.52. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.27 and a current ratio of 8.64.

Insider Activity at Erdene Resource Development

In other news, insider 2176423 Ontario Ltd. acquired 234,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were acquired at an average price of C$0.67 per share, for a total transaction of C$157,271.40. 22.51% of the stock is owned by company insiders.

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.