Erdene Resource Development (TSE:ERD) Announces Quarterly Earnings Results

Erdene Resource Development (TSE:ERD) issued its quarterly earnings data on Wednesday. The company reported C$0.07 EPS for the quarter, FiscalAI reports.

Erdene Resource Development Price Performance

TSE:ERD traded up C$0.23 during mid-day trading on Wednesday, hitting C$6.23. 116,398 shares of the stock traded hands, compared to its average volume of 179,416. The business’s 50-day moving average price is C$6.89 and its 200 day moving average price is C$7.72. The company has a market cap of C$406.78 million, a PE ratio of -47.92 and a beta of 1.94. Erdene Resource Development has a 12-month low of C$4.86 and a 12-month high of C$10.95. The company has a quick ratio of 4.27, a current ratio of 3.54 and a debt-to-equity ratio of 0.16.

Wall Street Analysts Forecast Growth

Separately, Paradigm Capital boosted their price objective on shares of Erdene Resource Development from C$11.00 to C$14.40 and gave the company a “speculative buy” rating in a research note on Tuesday, January 27th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$14.40.

About Erdene Resource Development

Erdene Resource Development Corp is a Canadian-based resource exploration company. It is primarily engaged in the exploration and development of precious metals and mineral deposits in Mongolia. The company’s project consists of Bayan Khundii, Altan Nar, Zuun Mod, and Khuvyn Khar. The Bayan Khundii and Altan Nar project is located within the Tian-Shan copper-gold belt in southwest Mongolia from the Chinese border city of Ceke. The Zuun Mod project is located within 200 kilometres of China’s border in Mongolia’s Bayankhongor Province.