Erdene Resource Development (TSE:ERD) Hits New 52-Week High - Should You Buy?

Key Points

• Erdene Resource Development Co. reached a new 52-week high of C$10.69 in trading, before closing at C$10.00, with a significant volume of 420,582 shares.
• The company has a market cap of C$610.64 million and is primarily focused on the exploration of precious metals in Mongolia.
• Despite hitting a new high, the stock is down 3.2% following its recent peak.

Erdene Resource Development Co. (TSE:ERD - ) hit a new 52-week high on Thursday . The company traded as high as C$10.69 and last traded at C$10.00, with a volume of 420582 shares. The stock had previously closed at C$10.33.

Erdene Resource Development Stock Down 3.2%

The company has a market cap of C$610.64 million, a P/E ratio of -55.56 and a beta of 0.98. The stock has a 50 day moving average price of C$3.77 and a two-hundred day moving average price of C$1.89.

Erdene Resource Development Company Profile

Erdene Resource Development Corp is a Canadian-based resource exploration company. It is primarily engaged in the exploration and development of precious metals and mineral deposits in Mongolia. The company's project consists of Bayan Khundii, Altan Nar, Zuun Mod, and Khuvyn Khar. The Bayan Khundii and Altan Nar project is located within the Tian-Shan copper-gold belt in southwest Mongolia from the Chinese border city of Ceke.

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