Erdene Resource Development Co. (TSE:ERD - Get Free Report) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$0.88 and traded as high as C$1.04. Erdene Resource Development shares last traded at C$1.00, with a volume of 136,404 shares.
Erdene Resource Development Stock Performance
The firm has a 50 day simple moving average of C$0.89 and a 200 day simple moving average of C$0.73. The firm has a market cap of C$360.98 million, a P/E ratio of -401.10 and a beta of 1.63.
Insiders Place Their Bets
In other Erdene Resource Development news, insider 2176423 Ontario Ltd. purchased 250,000 shares of the stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of C$0.75 per share, with a total value of C$186,725.00. Also, Director David Vaughn Mosher sold 50,000 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of C$0.79, for a total value of C$39,500.00. Insiders purchased a total of 1,550,000 shares of company stock worth $1,334,295 in the last quarter. 22.51% of the stock is owned by company insiders.
About Erdene Resource Development
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Erdene Resource Development Corporation focuses on the exploration and development of precious and base metal deposits in Mongolia. The company explores for copper, molybdenum, gold, silver, lead, and zinc deposits. The company was formerly known as Erdene Gold Inc and changed its name to Erdene Resource Development Corporation in May 2008.
Further Reading
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