Entrée Resources (TSE:ETG) Shares Cross Above 200 Day Moving Average – Here’s Why

Entrée Resources Ltd. (TSE:ETG) (NYSE:EGI) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$2.12 and traded as high as C$2.59. Entrée Resources shares last traded at C$2.57, with a volume of 36,120 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, TD Securities cut shares of Entrée Resources from a “buy” rating to a “hold” rating and set a C$2.00 price target on the stock. in a research report on Tuesday, November 19th.

Entrée Resources Stock Up 2.0 %

The company has a market cap of C$376.24 million, a P/E ratio of -51.64 and a beta of 1.38. The stock’s 50-day moving average price is C$2.53 and its 200-day moving average price is C$2.12. The company has a current ratio of 17.51, a quick ratio of 40.62 and a debt-to-equity ratio of -19.14.

Entrée Resources Company Profile

Entrée Resources Ltd., a mining company, engages in the exploration, evaluation, and development of mineral property interests in Canada. Its principal asset is the Entrée/Oyu Tolgoi joint venture property comprising Hugo North Extension copper-gold deposit and the Heruga copper-gold-molybdenum deposit located in Mongolia.