Erdene Resource Development (TSE:ERD) Stock Passes Below 200-Day Moving Average – Here’s Why

Erdene Resource Development Co. (TSE:ERD)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$6.71 and traded as low as C$5.13. Erdene Resource Development shares last traded at C$5.31, with a volume of 37,792 shares.

Erdene Resource Development Price Performance

The company has a quick ratio of 4.27, a current ratio of 104.30 and a debt-to-equity ratio of 0.09. The company has a market cap of C$347.77 million, a price-to-earnings ratio of 531.00 and a beta of 2.19. The stock’s 50-day simple moving average is C$5.47 and its 200 day simple moving average is C$6.71.

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