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

Erdene Resource Development Co. (TSE:ERD) shares passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$0.91 and traded as high as C$1.00. Erdene Resource Development shares last traded at C$1.00, with a volume of 162,442 shares trading hands.

Erdene Resource Development Price Performance

The firm has a market cap of C$357.41 million, a price-to-earnings ratio of -397.12 and a beta of 1.63. The firm has a fifty day simple moving average of C$0.91 and a two-hundred day simple moving average of C$0.74.

Insider Transactions at Erdene Resource Development

In other Erdene Resource Development news, insider 2176423 Ontario Ltd. bought 400,000 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The stock was bought at an average cost of C$0.93 per share, for a total transaction of C$373,080.00. Also, Director David Vaughn Mosher sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of C$0.79, for a total value of C$39,500.00. Over the last ninety days, insiders purchased 1,300,000 shares of company stock worth $1,147,570. Company insiders own 22.51% of the company’s stock.

About Erdene Resource Development

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.