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

Erdene Resource Development (TSE:ERD) issued its earnings results on Tuesday. The company reported C($0.06) EPS for the quarter, FiscalAI reports.

Erdene Resource Development Stock Performance

TSE:ERD traded up C$0.12 during mid-day trading on Tuesday, hitting C$6.05. 144,963 shares of the stock were exchanged, compared to its average volume of 201,409. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.27 and a current ratio of 4.16. The stock has a market capitalization of C$392.41 million, a price-to-earnings ratio of -30.25 and a beta of 1.53. The firm’s 50-day simple moving average is C$8.14 and its 200 day simple moving average is C$8.22. Erdene Resource Development has a fifty-two week low of C$3.96 and a fifty-two week high of C$10.95.

Analyst Ratings Changes

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