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

Shares of Erdene Resource Development Co. (TSE:ERD) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-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 traded.

Erdene Resource Development Stock Down 1.3%

The firm’s fifty day simple moving average is C$5.47 and its two-hundred day simple moving average is C$6.71. 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 company has a market capitalization of C$347.77 million, a price-to-earnings ratio of 531.00 and a beta of 2.19.

Erdene Resource Development (TSE:ERD) last announced 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’).