Erdene Resource Development (TSE:ERD) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Erdene Resource Development Co. (TSE:ERD) shares crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$8.02 and traded as low as C$6.98. Erdene Resource Development shares last traded at C$7.14, with a volume of 345,754 shares traded.

Wall Street Analyst Weigh In

Separately, Paradigm Capital upped their price target on Erdene Resource Development from C$11.00 to C$14.40 and gave the stock a “speculative buy” rating in a research report on Tuesday, January 27th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of C$14.40.

Erdene Resource Development Stock Performance

The stock has a market cap of C$465.91 million, a P/E ratio of -54.92 and a beta of 1.96. The company has a quick ratio of 4.27, a current ratio of 3.54 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average price of C$7.25 and a two-hundred day moving average price of C$8.00.

Erdene Resource Development (TSE:ERD) last released its quarterly earnings data on Tuesday, March 24th. The company reported C($0.06) earnings per share for the quarter.

Erdene Resource Development Company Profile

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. The Zuun Mod project is located within 200 kilometres of China’s border in Mongolia’s Bayankhongor Province.