Entrée Resources (TSE:ETG) Stock Price Up 13.1% – Here’s What Happened

Entrée Resources Ltd. (TSE:ETG) (NYSE:EGI) shares rose 13.1% on Tuesday . The stock traded as high as C$2.69 and last traded at C$2.68. 221,294 shares changed hands during trading, an increase of 119% from the average daily volume of 101,212 shares. The stock had previously closed at C$2.37.

Entrée Resources Stock Up 14.8%

The company has a current ratio of 10.65, a quick ratio of 40.62 and a debt-to-equity ratio of -27.77. The firm has a market capitalization of C$568.79 million, a price-to-earnings ratio of -38.17 and a beta of 0.32. The stock has a fifty day moving average of C$2.61 and a 200-day moving average of C$2.55.

Entrée Resources (TSE:ETG) (NYSE:EGI) last announced its earnings results on Tuesday, August 11th. The company reported C($0.03) EPS for the quarter.

Insider Transactions at Entrée Resources

In other Entrée Resources news, insider Stephen Victor Scott sold 10,000 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of C$3.15, for a total transaction of C$31,500.00. Following the completion of the sale, the insider directly owned 1,997,959 shares of the company’s stock, valued at approximately C$6,293,570.85. This represents a 0.50% decrease in their ownership of the stock. Also, insider Christopher Adams bought 19,700 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was purchased at an average price of C$2.50 per share, with a total value of C$49,250.00. Following the completion of the acquisition, the insider owned 60,000 shares of the company’s stock, valued at approximately C$150,000. This trade represents a 48.88% increase in their ownership of the stock. Over the last ninety days, insiders have acquired 30,000 shares of company stock valued at $75,164 and have sold 35,000 shares valued at $107,100. 43.31% of the stock is currently owned by corporate insiders.

About Entrée Resources

Entrée Resources Ltd. is a Canadian mining company with a unique carried joint venture interest on a significant portion of one of the world’s largest copper-gold projects – the Oyu Tolgoi project in Mongolia. Entrée has a 20% or 30% carried participating interest in the Entrée/Oyu Tolgoi JV, depending on the depth of mineralization. Royal Gold, Inc (through its wholly owned Canadian subsidiary International Royalty Corporation) and Rio Tinto are major shareholders of Entrée, beneficially holding approximately 24% and 16% of the shares of the Company, respectively.