Entrée Resources (TSE:ETG) Shares Break Below 200 Day Moving Average - What's Next?

Key Points

• Entrée Resources shares fell 2.3%, trading as low as C$2.57 and closing at C$2.60, below the 200-day moving average of C$2.64.
• The company reported a quarterly loss of C$0.03 per share and currently has a market capitalization of approximately C$543.7 million.
• Insiders have been buying shares: executives acquired 30,000 shares worth about $75,164 over the past three months, with insiders owning 43.31% of the company.

Entrée Resources Ltd. (TSE:ETG - Get Free Report) NYSE: EGI crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of C$2.64 and traded as low as C$2.57. Entrée Resources shares last traded at C$2.60, with a volume of 62,952 shares changing hands.

Entrée Resources Trading Down 2.3%

The company has a debt-to-equity ratio of -27.77, a current ratio of 10.65 and a quick ratio of 40.62. The business has a 50-day moving average of C$2.69 and a 200-day moving average of C$2.64. The firm has a market cap of C$543.70 million, a price-to-earnings ratio of -36.49 and a beta of 0.06.

Entrée Resources (TSE:ETG - Get Free Report) NYSE: EGI last posted its quarterly earnings results on Tuesday, August 11th. The company reported C($0.03) earnings per share for the quarter.

Insider Buying and Selling at Entrée Resources

In other news, insider Christopher Adams bought 19,700 shares of the firm's stock in a transaction that occurred on Friday, July 31st. The stock was acquired at an average cost of C$2.50 per share, with a total value of C$49,250.00. Following the completion of the purchase, the insider owned 60,000 shares of the company's stock, valued at C$150,000. This represents a 48.88% increase in their ownership of the stock. Insiders have acquired 30,000 shares of company stock valued at $75,164 over the last three months. 43.31% of the stock is currently owned by company insiders.

About Entrée Resources

Entrée Resources Ltd. is a Canadian mining company with a unique carried joint venture interest on a significant portion of one of the world's largest copper-gold projects - the Oyu Tolgoi project in Mongolia. Entrée has a 20% or 30% carried participating interest in the Entrée/Oyu Tolgoi JV, depending on the depth of mineralization. Royal Gold, Inc (through its wholly owned Canadian subsidiary International Royalty Corporation) and Rio Tinto are major shareholders of Entrée, beneficially holding approximately 24% and 16% of the shares of the Company, respectively.

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