Erdene Resource Development Co. (TSE:ERD – Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$0.53 and traded as low as C$0.53. Erdene Resource Development shares last traded at C$0.54, with a volume of 47,000 shares changing hands.
Erdene Resource Development Price Performance
The company has a market cap of C$188.26 million, a price-to-earnings ratio of -27.00 and a beta of 1.63. The company has a current ratio of 8.64, a quick ratio of 4.27 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of C$0.61 and a 200 day moving average price of C$0.53.
Insider Activity
In other news, insider 2176423 Ontario Ltd. acquired 234,000 shares of the stock in a transaction on Wednesday, October 2nd. The shares were purchased at an average cost of C$0.67 per share, for a total transaction of C$157,271.40. 22.51% of the stock is currently owned by company insiders.
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.
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