Erdene Resource Development (TSE:ERD) Stock Passes Above 50-Day Moving Average - Time to Sell?

Key Points

• Erdene Resource Development's stock (TSE:ERD) has crossed above its fifty-day moving average of C$0.94, reaching as high as C$1.04.
• The company has a market capitalization of C$368.13 million and a price-to-earnings ratio of -409.04.
• Insider transactions include the purchase of 100,000 shares by 2176423 Ontario Ltd. at an average price of C$0.91 per share, with insiders owning 22.51% of the stock.

Erdene Resource Development Co. (TSE:ERD - Get Free Report)'s stock price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$0.94 and traded as high as C$1.04. Erdene Resource Development shares last traded at C$1.03, with a volume of 639,428 shares changing hands.

Erdene Resource Development Price Performance

The firm's 50 day moving average is C$0.95 and its two-hundred day moving average is C$0.88. The firm has a market capitalization of C$418.17 million, a P/E ratio of -464.64 and a beta of 1.63.

Insider Buying and Selling at Erdene Resource Development

In other news, insider 2176423 Ontario Ltd. bought 100,000 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The stock was acquired at an average cost of C$0.91 per share, with a total value of C$91,390.00. Corporate 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.