Erdene Resource Development (TSE:ERD) Share Price Passes Above 50 Day Moving Average - Should You Sell?

Erdene Resource Development Co. (TSE:ERD - Get Free Report)'s share price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$0.68 and traded as high as C$0.82. Erdene Resource Development shares last traded at C$0.82, with a volume of 530,310 shares trading hands.

Erdene Resource Development Price Performance

The stock has a market cap of C$271.63 million, a PE ratio of -301.81 and a beta of 1.63. The company has a 50-day simple moving average of C$0.69 and a 200-day simple moving average of C$0.64.

Insider Activity

In other Erdene Resource Development news, insider 2176423 Ontario Ltd. acquired 400,000 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were acquired at an average cost of C$0.65 per share, for a total transaction of C$259,640.00. Also, Director David Vaughn Mosher sold 50,000 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of C$0.79, for a total transaction of C$39,500.00. Insiders purchased 1,785,500 shares of company stock worth $1,230,428 in the last 90 days. 22.51% of the stock is currently owned by corporate insiders.

Erdene Resource Development Company Profile

Erdene Resource Development Corporation focuses on the exploration and development of precious and base metal deposits in Mongolia. The company explores for copper, molybdenum, gold, silver, lead, and zinc deposits. The company was formerly known as Erdene Gold Inc and changed its name to Erdene Resource Development Corporation in May 2008.