Entrée Resources (TSE:ETG) Shares Down 9.6% – Should You Sell?

Entrée Resources Ltd. (TSE:ETG) (NYSE:EGI)’s stock price fell 9.6% during mid-day trading on Tuesday. The company traded as low as C$2.74 and last traded at C$2.74. Approximately 97,255 shares were traded during mid-day trading, a decline of 1% from the average daily volume of 98,504 shares. The stock had previously closed at C$3.03.

Entrée Resources Stock Up 3.7%

The firm has a market capitalization of C$583.43 million, a PE ratio of -39.16 and a beta of 0.06. The company has a fifty day moving average price of C$2.68 and a 200-day moving average price of C$2.63. The company has a debt-to-equity ratio of -27.77, a quick ratio of 40.62 and a current ratio of 10.65.

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

Insider Buying and Selling

In other Entrée Resources news, insider Christopher Adams acquired 19,700 shares of the stock in a transaction on Friday, July 31st. The stock was acquired at an average price of C$2.50 per share, for a total transaction of C$49,250.00. Following the completion of the transaction, the insider directly owned 60,000 shares of the company’s stock, valued at C$150,000. This trade represents a 48.88% increase in their ownership of the stock. Insiders have acquired a total of 30,000 shares of company stock worth $75,164 in the last three months. 43.31% of the stock is owned by company 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.