Entrée Resources (TSE:ETG) Stock Price Up 13.1% – Here’s Why

Entrée Resources Ltd. (TSE:ETG) (NYSE:EGI)’s stock price traded up 13.1% on Tuesday . The stock traded as high as C$2.69 and last traded at C$2.68. Approximately 221,294 shares were traded during trading, an increase of 119% from the average daily volume of 101,212 shares. The stock had previously closed at C$2.37.

Entrée Resources Trading Up 4.8%

The stock’s fifty day simple moving average is C$2.59 and its 200-day simple moving average is C$2.55. The company has a debt-to-equity ratio of -27.77, a current ratio of 10.65 and a quick ratio of 40.62. The firm has a market cap of C$598.07 million, a PE ratio of -40.14 and a beta of 0.32.

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

Insider Transactions at Entrée Resources

In other news, insider Stephen Victor Scott sold 10,000 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of C$3.15, for a total value of C$31,500.00. Following the completion of the sale, the insider directly owned 1,997,959 shares in the company, valued at C$6,293,570.85. This represents a 0.50% decrease in their ownership of the stock. Also, insider Christopher Adams purchased 19,700 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was acquired at an average cost of C$2.50 per share, for a total transaction of C$49,250.00. Following the completion of the purchase, the insider owned 60,000 shares of the company’s stock, valued at approximately C$150,000. This represents a 48.88% increase in their position. Over the last quarter, insiders bought 30,000 shares of company stock valued at $75,164 and sold 35,000 shares valued at $107,100. 43.31% of the stock is owned by corporate 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.