Erdene Resource Development (TSE:ERD) Given New C$14.40 Price Target at Paradigm Capital

Erdene Resource Development (TSE:ERD) had its target price upped by Paradigm Capital from C$11.00 to C$14.40 in a research 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 suggests a potential upside of 63.64% from the stock’s previous close.

Erdene Resource Development Price Performance

Erdene Resource Development stock traded down C$0.68 during mid-day trading on Tuesday, reaching C$8.80. 602,929 shares of the company traded hands, compared to its average volume of 236,683. The firm’s 50 day moving average price is C$8.14 and its 200 day moving average price is C$6.30. The firm has a market capitalization of C$542.35 million, a price-to-earnings ratio of -44.00 and a beta of 1.57. Erdene Resource Development has a 52-week low of C$3.42 and a 52-week high of C$10.95.

Erdene Resource Development (TSE:ERD) last posted its quarterly earnings data on Tuesday, November 4th. The company reported C$0.05 EPS for the quarter.

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.