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

Shares of Erdene Resource Development Co. (TSE:ERD) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$6.99 and traded as low as C$4.93. Erdene Resource Development shares last traded at C$5.05, with a volume of 70,279 shares trading hands.

Erdene Resource Development Stock Down 3.3%

The stock has a market capitalization of C$330.74 million, a price-to-earnings ratio of 505.00 and a beta of 2.19. The firm has a 50 day simple moving average of C$5.72 and a 200-day simple moving average of C$6.99. The company has a debt-to-equity ratio of 0.09, a current ratio of 104.30 and a quick ratio of 4.27.

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