Erdene Resource Development (TSE:ERD) Share Price Crosses Above 50 Day Moving Average - Time to Sell?

Key Points

• Erdene Resource Development shares crossed above their 50-day moving average of C$3.07, reaching a high of C$8.46 during trading.
• The company's current share price is C$8.37, and it has a market capitalization of C$511.11 million.
• Erdene Resource Development is focused on the exploration and development of precious metals and mineral deposits in Mongolia, with key projects like Bayan Khundii and Altan Nar.

Shares of Erdene Resource Development Co. (TSE:ERD - ) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$3.07 and traded as high as C$8.46. Erdene Resource Development shares last traded at C$8.37, with a volume of 335,858 shares.

Erdene Resource Development Stock Performance

The firm has a market cap of C$511.11 million, a P/E ratio of -46.50 and a beta of 0.98. The firm's fifty day moving average is C$3.07 and its 200 day moving average is C$1.64.

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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