Erdene Resource Development (TSE:ERD) Shares Pass Above 50 Day Moving Average of $0.42

Erdene Resource Development Co. (TSE:ERDGet Free Report)’s share price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$0.42 and traded as high as C$0.48. Erdene Resource Development shares last traded at C$0.47, with a volume of 82,535 shares traded.

Erdene Resource Development Stock Down 2.1 %

The stock’s 50-day moving average price is C$0.42 and its 200-day moving average price is C$0.37. The company has a current ratio of 31.22, a quick ratio of 4.27 and a debt-to-equity ratio of 0.04. The stock has a market cap of C$162.86 million, a price-to-earnings ratio of -41.00 and a beta of 1.46.

Erdene Resource Development (TSE:ERDGet Free Report) last released its earnings results on Friday, May 10th. The company reported C($0.01) earnings per share (EPS) for the quarter.

Insider Buying and Selling

In other Erdene Resource Development news, insider 2176423 Ontario Ltd. purchased 200,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were purchased at an average cost of C$0.41 per share, with a total value of C$82,000.00. 22.25% of the stock is currently owned by insiders.

About Erdene Resource Development

(Get Free Report)

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.

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