Erdene Resources (TSE:ERD)
TSX:ERD
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Erdene Resources
(TSX:ERD)
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Rating:49Neutral
Price Target:
C$6.00
▼(-34.14% Downside)
Action:Reiterated
Date:05/09/26
The score is held back primarily by weak operating fundamentals (no revenue, ongoing losses) and persistent negative free cash flow, indicating continued reliance on external capital. A strong, low-debt balance sheet partially offsets these risks, while technical indicators point to a weak downtrend. Valuation is only moderately supportive given the lack of dividend yield and the business’s early-stage financial profile.
Positive Factors
Low leverage / strong balance sheet
Near-zero debt and very low leverage materially reduce financial distress risk for a pre-production miner. This durable strength gives the company runway to fund exploration, permitting and technical studies, and supports negotiating JV or offtake terms without immediate refinancing pressure.
Negative Factors
Pre-revenue operations
Zero operating revenue across reported periods means the business lacks recurring cash inflows from production. Persistent operating losses increase dependency on external capital to progress from exploration to production, raising execution risk and the potential for shareholder dilution over time.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
Near-zero debt and very low leverage materially reduce financial distress risk for a pre-production miner. This durable strength gives the company runway to fund exploration, permitting and technical studies, and supports negotiating JV or offtake terms without immediate refinancing pressure.
Read all positive factors
Erdene Resources (ERD) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$442.27M
Dividend YieldN/A
Average Volume (3M)138.53K
Price to Earnings (P/E)382.3
Beta (1Y)2.19
Revenue GrowthN/A
EPS GrowthN/A
CountryCA
Employees17
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)0.06
Shares Outstanding69,980,210
10 Day Avg. Volume107,871
30 Day Avg. Volume138,529
Financial Highlights & Ratios
PEG Ratio-0.14
Price to Book (P/B)9.23
Price to Sales (P/S)0.00
P/FCF Ratio-112.05
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Erdene Resources Business Overview & Revenue Model
Company Description
Erdene Resource Development Corporation focuses on the acquisition, exploration, and development of precious and base mineral deposits in Mongolia. It explores for copper, molybdenum, gold, silver, lead, and zinc deposits. The company principally ...
How the Company Makes Money
Erdene’s core business model is project exploration and development: it invests capital to discover and advance mineral deposits (e.g., drilling, resource estimation, engineering studies, and permitting) with the objective of creating value throug...
Erdene Resources Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
78
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -35.48K | -26.18K | -29.83K | -36.96K | -38.09K | -37.35K |
| EBITDA | -9.18M | -6.42M | -3.48M | -3.95M | -5.84M | -5.48M |
| Net Income | 1.08M | -8.18M | -8.25M | 522.04K | -17.99M | -5.58M |
Balance Sheet | ||||||
| Total Assets | 88.11M | 56.07M | 63.00M | 59.06M | 52.53M | 46.54M |
| Cash, Cash Equivalents and Short-Term Investments | 29.11M | 4.66M | 7.30M | 4.35M | 7.42M | 7.06M |
| Total Debt | 83.00K | 88.83K | 0.00 | 22.94K | 82.60K | 151.84K |
| Total Liabilities | 338.00K | 1.53M | 782.85K | 186.15K | 909.01K | 812.30K |
| Stockholders Equity | 87.77M | 54.53M | 62.22M | 58.88M | 51.62M | 45.73M |
Cash Flow | ||||||
| Free Cash Flow | -5.93M | -4.49M | -3.67M | -3.09M | -13.41M | -14.07M |
| Operating Cash Flow | -5.62M | -4.44M | -3.30M | -2.05M | -5.14M | -5.24M |
| Investing Cash Flow | -1.64M | -1.55M | -211.76K | -1.03M | -8.21M | -8.77M |
| Financing Cash Flow | 30.15M | 3.36M | 6.42M | 27.88K | 13.74M | 8.14M |
Erdene Resources Technical Analysis
Neutral
9.11
Price Trends
6.32
Positive
7.32
Negative
7.64
Negative
Market Momentum
-0.04
Negative
50.01
Neutral
69.01
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ERD, the sentiment is Neutral. The current price of 9.11 is above the 20-day moving average (MA) of 6.22, above the 50-day MA of 6.32, and above the 200-day MA of 7.64, indicating a neutral trend. The MACD of -0.04 indicates Negative momentum. The RSI at 50.01 is Neutral, neither overbought nor oversold. The STOCH value of 69.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:ERD.
Erdene Resources Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | C$517.24M | -134.42 | -5.64% | ― | ― | 3.45% | |
51 Neutral | C$952.54M | ― | -6.23% | ― | ― | 29.62% | |
49 Neutral | C$442.27M | 382.29 | 1.72% | ― | ― | ― | |
46 Neutral | C$517.26M | -28.85 | 13.55% | ― | ― | 7.10% | |
43 Neutral | C$275.62M | -22.18 | -38.34% | ― | ― | -274.02% | |
42 Neutral | C$1.05B | -521.15 | -0.57% | ― | ― | 28.16% |
* Basic Materials Sector Average
TSE:ERD
Erdene Resources
6.32
0.26
4.29%
TSE:ETG
Entree Gold
2.48
0.21
9.25%
TSE:GQC
GoldQuest Mining
0.72
0.16
28.57%
TSE:REG
Regulus Resources
4.12
1.97
91.63%
TSE:TLO
Talon Metals
6.84
4.84
242.00%
TSE:ARA
Aclara Resources, Inc.
4.33
3.57
469.74%
Erdene Resources Corporate Events
Business Operations and StrategyFinancial Disclosures
Erdene Ramps Up Bayan Khundii Gold Mine as Mongolian Growth Pipeline Expands
Positive
Mar 25, 2026
Erdene reported that construction of the Bayan Khundii Gold Mine was completed in the third quarter of 2025, with first gold poured in September and 7,434 ounces of gold sold by year-end, generating about US$31 million in gross revenue including s...
Business Operations and StrategyFinancial Disclosures
Erdene sets date to release 2025 results and hold investor call
Neutral
Mar 20, 2026
Erdene Resource Development Corp., a Canadian gold producer operating the Bayan Khundii Gold Mine in Mongolia and advancing a pipeline of nearby precious and base metal projects in the Khundii Minerals District, maintains listings on the Toronto, ...
Business Operations and Strategy
Erdene Extends Mineralization at Zuun Mod Molybdenum-Copper Project in Mongolia
Positive
Feb 17, 2026
Erdene Resource Development reported drilling results from its Zuun Mod molybdenum-copper project in Mongolia, showing multiple near-surface intersections of ore-grade mineralization in zones previously modelled as waste. The latest campaign, incl...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.