Erdene Resource Development (TSE:ERD) Stock Price Up 1.8% – Should You Buy?

Erdene Resource Development Co. (TSE:ERD) traded up 1.8% during trading on Monday . The company traded as high as C$0.58 and last traded at C$0.58. 38,879 shares were traded during mid-day trading, a decline of 75% from the average session volume of 156,049 shares. The stock had previously closed at C$0.57.

Erdene Resource Development Price Performance

The business has a 50-day simple moving average of C$0.65 and a 200 day simple moving average of C$0.52. The stock has a market cap of C$202.21 million, a P/E ratio of -29.00 and a beta of 1.63. The company has a current ratio of 8.64, a quick ratio of 4.27 and a debt-to-equity ratio of 0.01.

Insider Buying and Selling at Erdene Resource Development

In other Erdene Resource Development news, insider 2176423 Ontario Ltd. acquired 234,000 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were bought at an average cost of C$0.67 per share, with a total value of C$157,271.40. 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.