Entrée Resources (TSE:ETG) Share Price Breaks Above 200-Day Moving Average – Here’s Why

Entrée Resources Ltd. (TSE:ETG) (NYSE:EGI) shares passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$2.64 and traded as high as C$2.80. Entrée Resources shares last traded at C$2.80, with a volume of 157,264 shares trading hands.

Entrée Resources Price Performance

The stock’s 50 day moving average price is C$2.71 and its two-hundred day moving average price is C$2.63. The stock has a market cap of C$549.97 million, a price-to-earnings ratio of -36.91 and a beta of -0.06. The company has a quick ratio of 40.62, a current ratio of 10.65 and a debt-to-equity ratio of -27.77.

Entrée Resources (TSE:ETG) (NYSE:EGI) last posted its quarterly earnings data on Thursday, November 5th. The company reported C($0.01) earnings per share for the quarter.

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.