Entrée Resources (TSE:ETG) Shares Cross Below 200 Day Moving Average – Time to Sell?

Entrée Resources Ltd. (TSE:ETG) (NYSE:EGI) shares passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$2.63 and traded as low as C$2.63. Entrée Resources shares last traded at C$2.66, with a volume of 176,403 shares.

Entrée Resources Trading Down 8.0%

The firm has a market capitalization of C$554.80 million, a price-to-earnings ratio of -44.33 and a beta of 0.34. The company has a fifty day moving average price of C$2.67 and a two-hundred day moving average price of C$2.63. The company has a current ratio of 12.25, a quick ratio of 40.62 and a debt-to-equity ratio of -26.05.

Entrée Resources (TSE:ETG) (NYSE:EGI) last announced its quarterly earnings data on Thursday, May 14th. The company reported C($0.01) EPS for the quarter.

Insider Activity at Entrée Resources

In other news, insider Stephen Victor Scott sold 20,000 shares of Entrée Resources stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of C$3.00, for a total transaction of C$60,000.00. Following the transaction, the insider owned 2,007,959 shares in the company, valued at C$6,023,877. The trade was a 0.99% decrease in their position. In the last 90 days, insiders sold 35,000 shares of company stock worth $107,100. 43.31% of the stock is owned by insiders.

Entrée Resources Company Profile

Entrée Resources Ltd. is a Canadian mining company with a unique carried joint venture interest on a significant portion of one of the world’s largest copper-gold projects – the Oyu Tolgoi project in Mongolia. Entrée has a 20% or 30% carried participating interest in the Entrée/Oyu Tolgoi JV, depending on the depth of mineralization. Royal Gold, Inc (through its wholly owned Canadian subsidiary International Royalty Corporation) and Rio Tinto are major shareholders of Entrée, beneficially holding approximately 24% and 16% of the shares of the Company, respectively.