Entrée Resources (TSE:ETG) Hits New 52-Week High – Here’s Why

Entrée Resources Ltd. (TSE:ETG) (NYSE:EGI) shares reached a new 52-week high during trading on Friday . The company traded as high as C$2.51 and last traded at C$2.46, with a volume of 371668 shares. The stock had previously closed at C$2.31.

Analyst Ratings Changes

Separately, TD Securities cut Entrée Resources from a “buy” rating to a “hold” rating and set a C$2.00 price target for the company. in a research report on Tuesday, November 19th.

Entrée Resources Price Performance

The company has a market cap of C$508.43 million, a price-to-earnings ratio of -35.71 and a beta of 1.38. The business’s 50-day simple moving average is C$2.12 and its 200-day simple moving average is C$1.76.

About Entrée Resources

Entrée Resources Ltd., a mining company, engages in the exploration, evaluation, and development of mineral property interests in Canada. Its principal asset is the Entrée/Oyu Tolgoi joint venture property comprising Hugo North Extension copper-gold deposit and the Heruga copper-gold-molybdenum deposit located in Mongolia.