Erdene Resource Development (TSE:ERD) Shares Break Below 50 Day Moving Average – Here’s What Happened

Erdene Resource Development Co. (TSE:ERD)’s stock price passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of C$5.99 and traded as low as C$5.73. Erdene Resource Development shares last traded at C$5.97, with a volume of 96,298 shares trading hands.

Erdene Resource Development Stock Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 29.04 and a quick ratio of 4.27. The stock has a 50-day simple moving average of C$5.99 and a 200-day simple moving average of C$6.37. The stock has a market cap of C$391.03 million, a P/E ratio of 14.21 and a beta of 2.36.

Erdene Resource Development (TSE:ERD) last issued its earnings results on Wednesday, November 4th. The company reported C$0.14 EPS for the quarter.

Erdene Resource Development Company Profile

Erdene Resource Development Corp. is a Canada-based resource company producing gold at the high-grade, low-cost Bayan Khundii Gold Mine in underexplored and highly prospective Mongolia. The Company has interests in a portfolio of precious and base metal projects near the Bayan Khundii Gold Mine in the Khundii Minerals District, which provides a robust organic growth pipeline. Erdene Resource Development Corp. is listed on the Toronto (‘ERD’) and the Mongolian stock (‘ERDN’) exchanges and OTCQX Market (‘ERDCF’).