Entrée Resources (TSE:ETG) Stock Crosses Below 200-Day Moving Average – Here’s Why

Shares of Entrée Resources Ltd. (TSE:ETG) (NYSE:EGI) passed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of C$2.64 and traded as low as C$2.57. Entrée Resources shares last traded at C$2.60, with a volume of 62,952 shares changing hands.

Entrée Resources Price Performance

The company has a current ratio of 10.65, a quick ratio of 40.62 and a debt-to-equity ratio of -27.77. The firm has a market capitalization of C$543.70 million, a price-to-earnings ratio of -36.49 and a beta of 0.06. The company’s 50 day moving average is C$2.69 and its 200-day moving average is C$2.64.

Entrée Resources (TSE:ETG) (NYSE:EGI) last announced its quarterly earnings results on Tuesday, August 11th. The company reported C($0.03) earnings per share for the quarter.

Insider Activity

In other Entrée Resources news, insider Christopher Adams acquired 19,700 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was bought at an average cost of C$2.50 per share, with a total value of C$49,250.00. Following the completion of the transaction, the insider directly owned 60,000 shares in the company, valued at approximately C$150,000. This represents a 48.88% increase in their position. Insiders purchased 30,000 shares of company stock valued at $75,164 over the last ninety days. Company insiders own 43.31% of the company’s stock.

About Entrée Resources

Entrée Resources Ltd. is a Canadian mining company with a unique carried joint venture interest on a significant portion of one of the world’s largest copper-gold projects – the Oyu Tolgoi project in Mongolia. Entrée has a 20% or 30% carried participating interest in the Entrée/Oyu Tolgoi JV, depending on the depth of mineralization. Royal Gold, Inc (through its wholly owned Canadian subsidiary International Royalty Corporation) and Rio Tinto are major shareholders of Entrée, beneficially holding approximately 24% and 16% of the shares of the Company, respectively.