Entrée Resources (TSE:ETG) Hits New 52-Week High – Here’s Why

Entrée Resources Ltd. (TSE:ETG) (NYSE:EGI)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$2.70 and last traded at C$2.67, with a volume of 136057 shares. The stock had previously closed at C$2.44.

Analysts Set New Price Targets

Separately, TD Securities downgraded Entrée Resources from a “buy” rating to a “hold” rating and set a C$2.00 price objective for the company. in a research note on Tuesday, November 19th.

Entrée Resources Price Performance

The firm’s 50-day moving average is C$2.16 and its 200-day moving average is C$1.82. The company has a market capitalization of C$545.03 million, a P/E ratio of -38.29 and a beta of 1.38.

Entrée Resources Company Profile

Entrée Resources Ltd., a mining company, engages in the exploration, evaluation, and development of mineral property interests in Canada. Its principal asset is the Entrée/Oyu Tolgoi joint venture property comprising Hugo North Extension copper-gold deposit and the Heruga copper-gold-molybdenum deposit located in Mongolia.