Entrée Resources (TSE:ETG) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

Entrée Resources Ltd. (TSE:ETG) (NYSE:EGI)’s share price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of C$2.61 and traded as high as C$3.04. Entrée Resources shares last traded at C$3.02, with a volume of 65,609 shares.

Entrée Resources Stock Performance

The stock has a market cap of C$631.53 million, a P/E ratio of -42.38 and a beta of 0.06. 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 simple moving average of C$2.66 and a 200-day simple moving average of C$2.61.

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

Insider Activity

In other Entrée Resources news, insider Christopher Adams bought 19,700 shares of Entrée Resources stock in a transaction dated Friday, July 31st. The shares were purchased at an average cost of C$2.50 per share, with a total value of C$49,250.00. Following the transaction, the insider directly owned 60,000 shares of the company’s stock, valued at C$150,000. This represents a 48.88% increase in their ownership of the stock. Over the last three months, insiders purchased 30,000 shares of company stock valued at $75,164. 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.