Erdene Resource Development (TSE:ERD) Reaches New 52-Week High - Still a Buy?

Key Points

• Erdene Resource Development shares reached a new 52-week high of C$8.72 during trading, reflecting a 4.8% increase from the previous close of C$8.37.
• The company has a market capitalization of C$535.53 million and a P/E ratio of -48.72, indicating an ongoing investment risk.
• Erdene is primarily engaged in exploring and developing precious metals and minerals in Mongolia, with key projects in the Tian-Shan copper-gold belt.

Erdene Resource Development Co. (TSE:ERD - )'s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$8.72 and last traded at C$8.72, with a volume of 484009 shares. The stock had previously closed at C$8.37.

Erdene Resource Development Trading Up 4.8%

The firm has a market cap of C$535.53 million, a P/E ratio of -48.72 and a beta of 0.98. The company's fifty day moving average price is C$3.07 and its two-hundred day moving average price is C$1.64.

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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