Erdene Resource Development (TSE:ERD) Stock Price Passes Below 50-Day Moving Average – Time to Sell?

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.

Erdene Resource Development Trading Up 5.2 %

The company has a 50-day moving average price of C$0.62 and a 200-day moving average price of C$0.50. The firm has a market capitalization of C$212.66 million, a price-to-earnings ratio of -30.50 and a beta of 1.63. 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 Transactions at Erdene Resource Development

In other Erdene Resource Development news, insider 2176423 Ontario Ltd. acquired 234,000 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was acquired at an average cost of C$0.67 per share, with a total value of C$157,271.40. Insiders own 22.51% of the company’s stock.

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.