Erdene Resource Development (TSE:ERD) Stock Price Up 1.8% – Should You Buy?

Erdene Resource Development Co. (TSE:ERD)’s share price rose 1.8% during trading on Monday . The company traded as high as C$0.58 and last traded at C$0.58. Approximately 38,879 shares traded hands during trading, a decline of 75% from the average daily volume of 156,049 shares. The stock had previously closed at C$0.57.

Erdene Resource Development Price 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 company has a market cap of C$202.21 million, a price-to-earnings ratio of -29.00 and a beta of 1.63. The business has a fifty day moving average price of C$0.65 and a 200 day moving average price of C$0.52.

Insider Buying and Selling

In other news, insider 2176423 Ontario Ltd. acquired 234,000 shares of Erdene Resource Development 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 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.