Erdene Resource Development (TSE:ERD) Shares Pass Above 50 Day Moving Average – Here’s What Happened

Erdene Resource Development Co. (TSE:ERD)’s share price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$0.68 and traded as high as C$0.82. Erdene Resource Development shares last traded at C$0.82, with a volume of 530,310 shares traded.

Erdene Resource Development Trading Up 1.3 %

The firm has a market capitalization of C$282.35 million, a PE ratio of -313.73 and a beta of 1.63. The business has a 50-day moving average of C$0.69 and a 200 day moving average of C$0.63.

Insiders Place Their Bets

In related news, insider 2176423 Ontario Ltd. purchased 250,000 shares of Erdene Resource Development stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average price of C$0.75 per share, for a total transaction 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 stock was sold at an average price of C$0.79, for a total transaction of C$39,500.00. In the last ninety days, insiders bought 1,785,500 shares of company stock valued at $1,230,428. Corporate insiders own 22.51% of the company’s stock.

Erdene Resource Development Company Profile

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.