Erdene Resource Development (TSE:ERD) Stock Price Crosses Above 50-Day Moving Average - Should You Sell?

Key Points

• Erdene Resource Development's stock price has crossed above its 50-day moving average, currently sitting at C$9.67, significantly above the moving average of C$4.88.
• The company's market capitalization is approximately C$590.49 million, with a P/E ratio of -53.72 and a beta of 1.23.
• Director Peter Akerley sold 65,000 shares of the company at an average price of C$10.44, reducing his ownership by 11.88% in a transaction worth C$678,600.

Erdene Resource Development Co. (TSE:ERD - )'s stock price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$4.88 and traded as high as C$10.20. Erdene Resource Development shares last traded at C$9.67, with a volume of 306,671 shares trading hands.

Erdene Resource Development Price Performance

The stock has a market capitalization of C$590.49 million, a P/E ratio of -53.72 and a beta of 1.23. The firm's 50 day moving average price is C$4.88 and its 200 day moving average price is C$2.27.

Insider Activity at Erdene Resource Development

In other news, Director Peter Akerley sold 65,000 shares of the company's stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of C$10.44, for a total transaction of C$678,600.00. Following the completion of the transaction, the director directly owned 482,246 shares of the company's stock, valued at approximately C$5,034,648.24. This represents a 11.88% decrease in their ownership of the stock. Company insiders own 22.51% of the company's stock.

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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