Erdene Resource Development (TSE:ERD) Stock Crosses Above Fifty Day Moving Average – Here’s Why

Erdene Resource Development Co. (TSE:ERD) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty 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.

Erdene Resource Development Stock Performance

The stock has a market cap of C$293.07 million, a PE ratio of -325.64 and a beta of 1.63. The company’s 50-day moving average price is C$0.68 and its 200 day moving average price is C$0.63.

Insider Buying and Selling at Erdene Resource Development

In related news, Director David Vaughn Mosher sold 50,000 shares of the 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 transaction of C$39,500.00. Also, insider 2176423 Ontario Ltd. bought 178,000 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was bought at an average price of C$0.75 per share, with a total value of C$133,215.20. Insiders have acquired 1,785,500 shares of company stock worth $1,230,428 over the last quarter. 22.51% of the stock is currently owned by company insiders.

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.