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

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

Erdene Resource Development Trading Up 3.8%

Shares of ERD opened at C$6.23 on Thursday. Erdene Resource Development has a 1-year low of C$4.86 and a 1-year high of C$10.95. The company has a 50-day moving average of C$6.85 and a 200 day moving average of C$7.70. The firm has a market capitalization of C$406.78 million, a price-to-earnings ratio of -47.92 and a beta of 1.94. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.54 and a quick ratio of 4.27.

Wall Street Analysts Forecast Growth

Separately, Paradigm Capital increased 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 report on Tuesday, January 27th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$14.40.

Erdene Resource Development Company Profile

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.