Erdene Resource Development (TSE:ERD) Stock Price Crosses Below 200 Day Moving Average – What’s Next?

Erdene Resource Development Co. (TSE:ERD) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$6.56 and traded as low as C$5.60. Erdene Resource Development shares last traded at C$5.87, with a volume of 29,760 shares.

Erdene Resource Development Stock Up 6.1%

The company has a market cap of C$384.44 million, a price-to-earnings ratio of 587.00 and a beta of 2.20. The company has a current ratio of 104.30, a quick ratio of 4.27 and a debt-to-equity ratio of 0.09. The business has a fifty day moving average price of C$5.38 and a two-hundred day moving average price of C$6.56.

Erdene Resource Development (TSE:ERD) last posted its quarterly earnings results on Wednesday, May 6th. The company reported C$0.07 earnings per share (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’).