Erdene Resource Development (TSE:ERD) Share Price Crosses Above 50-Day Moving Average – Here’s Why

Shares of Erdene Resource Development Co. (TSE:ERD) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$8.01 and traded as high as C$9.50. Erdene Resource Development shares last traded at C$8.91, with a volume of 185,177 shares traded.

Erdene Resource Development Stock Down 2.4%

The business’s 50 day simple moving average is C$8.01 and its two-hundred day simple moving average is C$6.08. The stock has a market cap of C$549.13 million, a P/E ratio of -44.55 and a beta of 1.57.

Erdene Resource Development (TSE:ERD) last announced its quarterly earnings results on Tuesday, November 4th. The company reported C$0.05 EPS for the quarter.

About Erdene Resource Development

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.