Erdene Resource Development (TSE:ERD) Shares Pass Above 50 Day Moving Average – Here’s Why

Erdene Resource Development Co. (TSE:ERD)’s share price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$6.01 and traded as high as C$6.79. Erdene Resource Development shares last traded at C$6.73, with a volume of 44,255 shares.

Erdene Resource Development Stock Down 1.2%

The company has a fifty day simple moving average of C$6.04 and a 200-day simple moving average of C$6.14. The company has a quick ratio of 4.27, a current ratio of 58.38 and a debt-to-equity ratio of 0.08. The firm has a market cap of C$435.57 million, a P/E ratio of 28.91 and a beta of 2.14.

Erdene Resource Development (TSE:ERD) last issued its quarterly earnings results on Friday, August 14th. The company reported C$0.15 EPS for the quarter.

About Erdene Resource Development

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’).