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Entrée Resources (TSE:ETG) Stock Passes Above 200 Day Moving Average - Here's Why

Entrée Resources logo with Basic Materials background

Key Points

  • Entrée Resources Ltd. shares have risen above their 200-day moving average, reaching a high of C$2.44 before last trading at C$2.31.
  • The company exhibits a notably low debt-to-equity ratio of -19.14, indicating a significant cash position relative to its debts.
  • Entrée Resources is involved in a joint venture for the Oyu Tolgoi copper-gold project in Mongolia, functioning with characteristics similar to a royalty.
  • MarketBeat previews the top five stocks to own by November 1st.

Entrée Resources Ltd. (TSE:ETG - Get Free Report) NYSE: EGI shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$2.19 and traded as high as C$2.44. Entrée Resources shares last traded at C$2.31, with a volume of 224,336 shares trading hands.

Entrée Resources Trading Down 2.5%

The company has a 50-day simple moving average of C$2.19 and a 200-day simple moving average of C$2.19. The company has a debt-to-equity ratio of -19.14, a quick ratio of 40.62 and a current ratio of 17.51. The stock has a market cap of C$479.10 million, a P/E ratio of -46.20 and a beta of 0.99.

About Entrée Resources

(Get Free Report)

Entree Resources Ltd is a Canadian mining company which owns a joint venture interest on a significant portion of copper-gold projects - the Oyu Tolgoi project in Mongolia. The company's interest in the Entree/Oyu Tolgoi joint venture has the characteristics of a royalty, with the benefits of a producer.

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