Erdene Resource Development (TSE:ERD) Share Price 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 share price crossed above its fifty day moving average during trading on Friday . The stock has a fifty 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 Stock Performance

The firm has a fifty day simple moving average of C$0.95 and a 200-day simple moving average of C$0.87. The firm has a market cap of C$411.02 million, a price-to-earnings ratio of -456.69 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 company's stock in a transaction dated Thursday, June 26th. The stock was bought at an average price 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.