Erdene Resource Development (TSE:ERD) Stock Price Passes Above Fifty Day Moving Average – What’s Next?

Erdene Resource Development Co. (TSE:ERD – Get Free Report) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$6.59 and traded as high as C$6.70. Erdene Resource Development shares last traded at C$6.52, with a volume of 107,275 shares.

Analysts Set New Price Targets

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

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Erdene Resource Development Stock Performance

The firm has a fifty day simple moving average of C$6.51 and a 200 day simple moving average of C$7.57. The company has a current ratio of 104.30, a quick ratio of 4.27 and a debt-to-equity ratio of 0.09. The stock has a market cap of C$401.71 million, a price-to-earnings ratio of 615.00 and a beta of 1.94.

Erdene Resource Development (TSE:ERD – Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported C$0.07 EPS for the quarter.

Erdene Resource Development Company Profile

(Get Free Report)

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.

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