Erdene Resource Development (TSE:ERD) Price Target Raised to C$14.40

Erdene Resource Development (TSE:ERD) had its price objective lifted by equities researchers at Paradigm Capital from C$11.00 to C$14.40 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has a “speculative buy” rating on the stock. Paradigm Capital’s target price would indicate a potential upside of 63.64% from the company’s current price.

Erdene Resource Development Stock Performance

Shares of Erdene Resource Development stock traded down C$0.68 on Tuesday, reaching C$8.80. 602,929 shares of the stock were exchanged, compared to its average volume of 236,683. The firm has a market cap of C$542.35 million, a PE ratio of -44.00 and a beta of 1.57. The firm’s 50 day moving average is C$8.14 and its 200-day moving average is C$6.30. Erdene Resource Development has a one year low of C$3.42 and a one year high of C$10.95.

Erdene Resource Development (TSE:ERD) last issued its earnings results on Tuesday, November 4th. The company reported C$0.05 earnings per share for the quarter.

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.