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

Key Points

• Erdene Resource Development Co. (TSE:ERD) reached a new 52-week high at C$8.50 during trading, up from a previous close of C$7.49, with a volume of 206,138 shares traded.
• The company has a market cap of C$522.10 million and a price-to-earnings ratio of -47.50, indicating ongoing challenges despite recent stock performance.
• Insider 2176423 Ontario Ltd. purchased 100,000 shares at C$0.91 each, reflecting confidence in the company's direction, while insiders collectively own 22.51% of the stock.

Erdene Resource Development Co. (TSE:ERD - ) shares reached a new 52-week high during trading on Tuesday . The company traded as high as C$8.50 and last traded at C$8.50, with a volume of 206138 shares changing hands. The stock had previously closed at C$7.49.

Erdene Resource Development Stock Up 14.2%

The firm has a market cap of C$522.10 million, a price-to-earnings ratio of -47.50 and a beta of 0.98. The business has a 50 day moving average of C$1.91 and a 200 day moving average of C$1.23.

Insider Buying and Selling

In other Erdene Resource Development news, insider 2176423 Ontario Ltd. bought 100,000 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The stock was purchased at an average cost of C$0.91 per share, for a total transaction of C$91,390.00. Insiders own 22.51% of the company's stock.

About Erdene Resource Development

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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