Erdene Resource Development (TSE:ERD) Stock Price Passes Below Fifty Day Moving Average – Should You Sell?

Erdene Resource Development Co. (TSE:ERD) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$8.49 and traded as low as C$7.55. Erdene Resource Development shares last traded at C$7.65, with a volume of 47,244 shares changing hands.

Analyst Ratings Changes

Separately, Paradigm Capital upped their target price on shares of Erdene Resource Development from C$11.00 to C$14.40 and gave the stock a “speculative buy” rating in a report on Tuesday, January 27th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$14.40.

Erdene Resource Development Price Performance

The stock has a fifty day moving average of C$8.49 and a two-hundred day moving average of C$7.89. The company has a current ratio of 4.16, a quick ratio of 4.27 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of C$496.19 million, a price-to-earnings ratio of -38.25 and a beta of 1.53.

About Erdene Resource Development

Erdene Resource Development Corp is a Canadian-based resource exploration company. It is primarily engaged in the exploration and development of precious metals and mineral deposits in Mongolia. The company’s project consists of Bayan Khundii, Altan Nar, Zuun Mod, and Khuvyn Khar. The Bayan Khundii and Altan Nar project is located within the Tian-Shan copper-gold belt in southwest Mongolia from the Chinese border city of Ceke. The Zuun Mod project is located within 200 kilometres of China’s border in Mongolia’s Bayankhongor Province.