Erdene Resource Development (TSE:ERD) Hits New 52-Week High - Should You 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 - Get Free Report) shares reached a new 52-week high on Tuesday . The stock traded as high as C$8.50 and last traded at C$8.50, with a volume of 206138 shares traded. The stock had previously closed at C$7.49.

Erdene Resource Development Trading Up 0.2%

The company has a fifty day moving average of C$2.48 and a two-hundred day moving average of C$1.43. The stock has a market capitalization of C$493.40 million, a price-to-earnings ratio of -44.89 and a beta of 0.98.

Insider Buying and Selling

In other Erdene Resource Development news, insider 2176423 Ontario Ltd. purchased 100,000 shares of the company's stock in a transaction on Thursday, June 26th. The shares were bought at an average cost of C$0.91 per share, with a total value of C$91,390.00. 22.51% of the stock is currently owned by corporate insiders.

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.