Erdene Resources (TSE:ERD)
TSX:ERD
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Erdene Resources
(TSX:ERD)
Select Model
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Rating:43Neutral
Price Target:
C$6.00
▼(-34.14% Downside)
Action:ReiteratedDate:03/26/26
The score is primarily pressured by weak financial performance (no revenue, recurring losses, and ongoing cash burn) and bearish technical conditions (price below key moving averages with negative MACD). Valuation provides limited support because losses make the P/E uninformative and no dividend yield is available.
Positive Factors
Low leverage and sizable equity
Very low debt and substantial equity provide durable financial flexibility for an exploration developer: it reduces near-term refinancing risk, supports continued funding of exploration and technical studies, and creates optionality for joint-ventures or staged project funding without immediate creditor pressure.
Negative Factors
No revenue and recurring net losses
Absence of operating revenue and repeated annual losses (~8.2M in recent years) are structural weaknesses for an exploration company: ongoing losses erode equity cushions, lengthen the timeline to self-sufficiency, and leave the company dependent on external capital to sustain project advancement.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage and sizable equity
Very low debt and substantial equity provide durable financial flexibility for an exploration developer: it reduces near-term refinancing risk, supports continued funding of exploration and technical studies, and creates optionality for joint-ventures or staged project funding without immediate creditor pressure.
Read all positive factors
Erdene Resources (ERD) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$390.86M
Dividend YieldN/A
Average Volume (3M)138.53K
Price to Earnings (P/E)―
Beta (1Y)2.05
Revenue GrowthN/A
EPS Growth-1422.76%
CountryCA
Employees17
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)0.05
Shares Outstanding65,252,556
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 Target
C$14.40Price Target Upside58.07% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
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 is an exploration/development-stage mining company; as such, it generally does not have stable, recurring operating revenue from product sales unless and until it reaches commercial production. Its economic model is typically to create valu...
Erdene Resources Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
62
Positive
Cash Flow
18
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -26.18K | -29.83K | -36.96K | -38.09K | -37.35K |
| EBITDA | -6.42M | -3.48M | -3.95M | -5.84M | -5.48M |
| Net Income | -8.18M | -8.25M | 522.04K | -17.99M | -5.58M |
Balance Sheet | |||||
| Total Assets | 56.07M | 63.00M | 59.06M | 52.53M | 46.54M |
| Cash, Cash Equivalents and Short-Term Investments | 4.66M | 7.30M | 4.35M | 7.42M | 7.06M |
| Total Debt | 88.83K | 0.00 | 22.94K | 82.60K | 151.84K |
| Total Liabilities | 1.53M | 782.85K | 186.15K | 909.01K | 812.30K |
| Stockholders Equity | 54.53M | 62.22M | 58.88M | 51.62M | 45.73M |
Cash Flow | |||||
| Free Cash Flow | -4.49M | -3.67M | -3.09M | -13.41M | -14.07M |
| Operating Cash Flow | -4.44M | -3.30M | -2.05M | -5.14M | -5.24M |
| Investing Cash Flow | -1.55M | -211.76K | -1.03M | -8.21M | -8.77M |
| Financing Cash Flow | 3.36M | 6.42M | 27.88K | 13.74M | 8.14M |
Erdene Resources Technical Analysis
Negative
9.11
Price Trends
7.96
Negative
7.88
Negative
7.47
Negative
Market Momentum
-0.62
Positive
33.76
Neutral
39.48
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ERD, the sentiment is Negative. The current price of 9.11 is above the 20-day moving average (MA) of 7.07, above the 50-day MA of 7.96, and above the 200-day MA of 7.47, indicating a bearish trend. The MACD of -0.62 indicates Positive momentum. The RSI at 33.76 is Neutral, neither overbought nor oversold. The STOCH value of 39.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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% | |
55 Neutral | C$926.83M | 74,170.87 | -1.03% | ― | ― | -20.83% | |
51 Neutral | C$754.55M | -43.69 | -5.82% | ― | ― | 29.62% | |
48 Neutral | C$859.70M | -30.84 | -31.25% | ― | ― | -130.77% | |
48 Neutral | C$490.88M | -118.64 | -5.64% | ― | ― | -67.96% | |
44 Neutral | C$458.86M | -25.43 | 13.55% | ― | ― | -41.18% | |
43 Neutral | C$390.86M | -61.49 | -22.93% | ― | ― | -1422.76% |
* Basic Materials Sector Average
TSE:ERD
Erdene Resources
5.99
1.25
26.37%
TSE:ETG
Entree Gold
2.20
0.07
3.29%
TSE:GQC
GoldQuest Mining
2.25
1.85
455.56%
TSE:REG
Regulus Resources
3.91
1.68
75.34%
TSE:TLO
Talon Metals
6.20
5.15
490.48%
TSE:ARA
Aclara Resources, Inc.
3.43
2.89
535.19%
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...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Erdene Raises $28.7 Million to Accelerate Mongolian Copper-Gold Expansion
Positive
Feb 5, 2026
Erdene Resource Development Corp. has closed a bought deal private placement of 3.23 million common shares at $8.90 per share, raising gross proceeds of approximately $28.7 million, including full exercise of the underwriters’ option. The fu...
Business Operations and StrategyPrivate Placements and Financing
Erdene Raises $25 Million in Bought-Deal to Advance Mongolian Metals Portfolio
Positive
Jan 27, 2026
Erdene Resource Development has entered into a bought-deal private placement agreement under which a syndicate led by Paradigm Capital and National Bank Financial will purchase 2,809,000 common shares at $8.90 per share, for gross proceeds of abou...
Business Operations and StrategyFinancial Disclosures
Erdene Advances Ramp-Up at Bayan Khundii Gold Mine as Cash Flow and Exploration Build District Potential
Positive
Jan 20, 2026
Erdene reported that its Bayan Khundii Gold Mine in Mongolia is progressing through ramp-up, with the mill averaging 77% of its 1,950 tonne-per-day design capacity in the fourth quarter of 2025 and reaching nameplate throughput for much of Decembe...
Business Operations and Strategy
Erdene Reports High-Grade Copper Hit at Mongolian Khuvyn Khar Porphyry Target
Positive
Jan 14, 2026
Erdene Resource Development has reported promising drill results from its wholly owned Khuvyn Khar copper-silver prospect in southwestern Mongolia, intersecting 65 metres grading 0.63% copper and 2.9 g/t silver, including a higher-grade zone of 30...
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.