Entrée Resources (TSE:ETG) Trading Up 13.1% – Here’s What Happened

Entrée Resources Ltd. (TSE:ETG) (NYSE:EGI)’s share price was up 13.1% on Tuesday . The stock traded as high as C$2.69 and last traded at C$2.68. Approximately 221,294 shares traded hands during mid-day trading, an increase of 119% from the average daily volume of 101,212 shares. The stock had previously closed at C$2.37.

Entrée Resources Stock Up 14.8%

The business’s 50 day simple moving average is C$2.61 and its 200-day simple moving average is C$2.55. The company has a debt-to-equity ratio of -27.77, a quick ratio of 40.62 and a current ratio of 10.65. The company has a market cap of C$568.79 million, a price-to-earnings ratio of -38.17 and a beta of 0.32.

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

Insider Activity

In other Entrée Resources news, insider Christopher Adams bought 19,700 shares of Entrée Resources stock in a transaction on Friday, July 31st. The stock was purchased at an average cost of C$2.50 per share, for a total transaction of C$49,250.00. Following the completion of the purchase, the insider directly owned 60,000 shares of the company’s stock, valued at C$150,000. The trade was a 48.88% increase in their ownership of the stock. Also, insider Stephen Victor Scott sold 10,000 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of C$3.15, for a total transaction of C$31,500.00. Following the transaction, the insider owned 1,997,959 shares in the company, valued at approximately C$6,293,570.85. This trade represents a 0.50% decrease in their position. Over the last quarter, insiders have bought 30,000 shares of company stock valued at $75,164 and have sold 35,000 shares valued at $107,100. 43.31% of the stock is owned by insiders.

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.