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

Shares of Erdene Resource Development Co. (TSE:ERD) 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 Stock Performance

The company has a quick ratio of 4.27, a current ratio of 8.64 and a debt-to-equity ratio of 0.01. The company has a market capitalization of C$212.66 million, a PE ratio of -30.50 and a beta of 1.63. The firm has a 50-day moving average of C$0.62 and a two-hundred day moving average of C$0.50.

Insider Activity at Erdene Resource Development

In related news, insider 2176423 Ontario Ltd. purchased 458,500 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were bought at an average price of C$0.60 per share, for a total transaction of C$274,962.45. Company insiders own 22.51% of the company’s stock.

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.