Erdene Resource Development (TSE:ERD) Shares Cross Below 50-Day Moving Average – Here’s What Happened

Erdene Resource Development Co. (TSE:ERD)’s stock price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$0.62 and traded as low as C$0.60. Erdene Resource Development shares last traded at C$0.61, with a volume of 124,368 shares changing hands.

Erdene Resource Development Trading Up 5.2 %

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’s fifty day moving average is C$0.62 and its 200 day moving average is C$0.50. The stock has a market cap of C$212.66 million, a P/E ratio of -30.50 and a beta of 1.63.

Insider Buying and Selling

In other news, insider 2176423 Ontario Ltd. acquired 458,500 shares of Erdene Resource Development stock in a transaction that occurred on Wednesday, September 25th. The shares were bought at an average cost of C$0.60 per share, with a total value of C$274,962.45. 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.