Erdene Resource Development (TSE:ERD) Stock Price Up 1.8% – Still a Buy?

Erdene Resource Development Co. (TSE:ERD) traded up 1.8% during trading on Monday . The company traded as high as C$0.58 and last traded at C$0.58. 38,879 shares were traded during mid-day trading, a decline of 75% from the average session volume of 156,049 shares. The stock had previously closed at C$0.57.

Erdene Resource Development Trading Up 7.0 %

The company has a quick ratio of 4.27, a current ratio of 8.64 and a debt-to-equity ratio of 0.01. The company has a market cap of C$212.66 million, a price-to-earnings ratio of -30.50 and a beta of 1.63. The firm has a 50 day moving average price of C$0.65 and a two-hundred day moving average price of C$0.52.

Insiders Place Their Bets

In other Erdene Resource Development news, insider 2176423 Ontario Ltd. acquired 234,000 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was purchased at an average cost of C$0.67 per share, with a total value of C$157,271.40. Company insiders own 22.51% of the company’s stock.

About Erdene Resource Development

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.