Entrée Resources (TSE:ETG) Shares Break Above 200-Day Moving Average – What’s Next?

Shares of Entrée Resources Ltd. (TSE:ETG) (NYSE:EGI) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$2.56 and traded as high as C$2.83. Entrée Resources shares last traded at C$2.74, with a volume of 34,128 shares changing hands.

Entrée Resources Price Performance

The company has a debt-to-equity ratio of -27.77, a current ratio of 10.65 and a quick ratio of 40.62. The company has a 50 day moving average price of C$2.57 and a 200 day moving average price of C$2.56. The firm has a market cap of C$600.16 million, a PE ratio of -40.28 and a beta of 0.32.

Entrée Resources (TSE:ETG) (NYSE:EGI) last posted its quarterly earnings data on Tuesday, August 11th. The company reported C($0.03) earnings per share for the quarter.

Insider Activity

In other news, insider Stephen Victor Scott sold 10,000 shares of the business’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 transaction, the insider directly owned 1,997,959 shares in the company, valued at C$6,293,570.85. The trade was a 0.50% decrease in their ownership of the stock. Also, insider Christopher Adams purchased 19,700 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were purchased at an average price of C$2.50 per share, for a total transaction of C$49,250.00. Following the completion of the purchase, 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. In the last ninety days, insiders bought 30,000 shares of company stock worth $75,164. Insiders own 43.31% of the company’s stock.

Entrée Resources Company Profile

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.