Erdene Free Cash Flow vs Sale Purchase Of Stock Analysis

ERD Stock  CAD 0.57  0.01  1.72%   
Erdene Resource financial indicator trend analysis is much more than just examining Erdene Resource Deve latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Erdene Resource Deve is a good investment. Please check the relationship between Erdene Resource Free Cash Flow and its Sale Purchase Of Stock accounts. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Erdene Resource Development. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Free Cash Flow vs Sale Purchase Of Stock

Free Cash Flow vs Sale Purchase Of Stock Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Erdene Resource Deve Free Cash Flow account and Sale Purchase Of Stock. At this time, the significance of the direction appears to have significant contrarian relationship.
The correlation between Erdene Resource's Free Cash Flow and Sale Purchase Of Stock is -0.47. Overlapping area represents the amount of variation of Free Cash Flow that can explain the historical movement of Sale Purchase Of Stock in the same time period over historical financial statements of Erdene Resource Development, assuming nothing else is changed. The correlation between historical values of Erdene Resource's Free Cash Flow and Sale Purchase Of Stock is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Free Cash Flow of Erdene Resource Development are associated (or correlated) with its Sale Purchase Of Stock. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Sale Purchase Of Stock has no effect on the direction of Free Cash Flow i.e., Erdene Resource's Free Cash Flow and Sale Purchase Of Stock go up and down completely randomly.

Correlation Coefficient

-0.47
Relationship DirectionNegative 
Relationship StrengthVery Weak

Free Cash Flow

The amount of cash a company generates after accounting for cash outflows to support operations and maintain its capital assets.

Sale Purchase Of Stock

Most indicators from Erdene Resource's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Erdene Resource Deve current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Erdene Resource Development. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
As of the 11th of December 2024, Enterprise Value is likely to grow to about 74.1 M, while Selling General Administrative is likely to drop about 2.2 M.
 2021 2022 2023 2024 (projected)
Cost Of Revenue37.4K38.1K37.0K35.1K
Depreciation And Amortization82.5K136.6K37.0K35.1K

Erdene Resource fundamental ratios Correlations

0.91-0.540.660.710.290.540.460.570.65-0.70.750.90.380.750.090.710.830.650.80.590.43-0.2-0.43-0.35-0.02
0.91-0.590.750.840.120.510.350.380.45-0.690.680.990.640.68-0.060.860.810.460.740.40.44-0.2-0.66-0.32-0.14
-0.54-0.59-0.89-0.850.15-0.88-0.62-0.13-0.250.49-0.55-0.54-0.38-0.550.24-0.62-0.89-0.25-0.59-0.04-0.77-0.060.70.720.6
0.660.75-0.890.80.00.670.360.270.28-0.520.530.730.530.53-0.060.660.840.280.570.180.890.0-0.88-0.81-0.55
0.710.84-0.850.8-0.130.80.540.080.22-0.570.60.810.670.6-0.390.90.90.220.660.050.49-0.06-0.71-0.37-0.36
0.290.120.150.0-0.13-0.20.090.610.450.150.190.21-0.190.190.47-0.19-0.060.450.170.640.11-0.120.05-0.150.76
0.540.51-0.880.670.8-0.20.740.020.28-0.50.570.440.260.57-0.450.580.870.280.61-0.060.50.1-0.42-0.45-0.47
0.460.35-0.620.360.540.090.740.370.65-0.480.650.28-0.210.65-0.140.320.660.650.660.350.210.02-0.01-0.26-0.12
0.570.38-0.130.270.080.610.020.370.86-0.40.530.39-0.330.520.560.10.320.860.530.970.280.110.03-0.360.23
0.650.45-0.250.280.220.450.280.650.86-0.570.670.43-0.390.670.410.170.461.00.680.880.22-0.110.1-0.310.13
-0.7-0.690.49-0.52-0.570.15-0.5-0.48-0.4-0.57-0.9-0.59-0.14-0.9-0.06-0.48-0.71-0.57-0.9-0.41-0.230.120.230.210.33
0.750.68-0.550.530.60.190.570.650.530.67-0.90.60.081.00.070.420.750.670.990.540.27-0.14-0.21-0.26-0.05
0.90.99-0.540.730.810.210.440.280.390.43-0.590.60.660.6-0.030.850.750.430.650.410.45-0.21-0.68-0.32-0.06
0.380.64-0.380.530.67-0.190.26-0.21-0.33-0.39-0.140.080.660.08-0.410.740.41-0.390.13-0.330.27-0.12-0.77-0.07-0.19
0.750.68-0.550.530.60.190.570.650.520.67-0.91.00.60.080.070.420.750.670.990.540.27-0.14-0.22-0.26-0.05
0.09-0.060.24-0.06-0.390.47-0.45-0.140.560.41-0.060.07-0.03-0.410.07-0.41-0.210.410.040.610.18-0.280.13-0.270.2
0.710.86-0.620.660.9-0.190.580.320.10.17-0.480.420.850.740.42-0.410.760.180.50.090.3-0.04-0.64-0.16-0.29
0.830.81-0.890.840.9-0.060.870.660.320.46-0.710.750.750.410.75-0.210.760.470.80.270.6-0.02-0.57-0.52-0.42
0.650.46-0.250.280.220.450.280.650.861.0-0.570.670.43-0.390.670.410.180.470.680.880.22-0.110.09-0.310.12
0.80.74-0.590.570.660.170.610.660.530.68-0.90.990.650.130.990.040.50.80.680.550.29-0.14-0.25-0.27-0.08
0.590.4-0.040.180.050.64-0.060.350.970.88-0.410.540.41-0.330.540.610.090.270.880.550.17-0.120.09-0.240.33
0.430.44-0.770.890.490.110.50.210.280.22-0.230.270.450.270.270.180.30.60.220.290.170.03-0.78-0.98-0.54
-0.2-0.2-0.060.0-0.06-0.120.10.020.11-0.110.12-0.14-0.21-0.12-0.14-0.28-0.04-0.02-0.11-0.14-0.120.030.05-0.06-0.16
-0.43-0.660.7-0.88-0.710.05-0.42-0.010.030.10.23-0.21-0.68-0.77-0.220.13-0.64-0.570.09-0.250.09-0.780.050.660.46
-0.35-0.320.72-0.81-0.37-0.15-0.45-0.26-0.36-0.310.21-0.26-0.32-0.07-0.26-0.27-0.16-0.52-0.31-0.27-0.24-0.98-0.060.660.52
-0.02-0.140.6-0.55-0.360.76-0.47-0.120.230.130.33-0.05-0.06-0.19-0.050.2-0.29-0.420.12-0.080.33-0.54-0.160.460.52
Click cells to compare fundamentals

Erdene Resource Account Relationship Matchups

Erdene Resource fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets27.0M42.8M46.5M52.5M59.1M30.0M
Total Stockholder Equity20.0M42.1M45.7M51.6M58.9M61.8M
Retained Earnings(104.4M)(117.5M)(123.0M)(129.0M)(128.5M)(122.1M)
Common Stock Shares Outstanding178.5M216.5M276.1M306.2M346.0M363.3M
Liabilities And Stockholders Equity27.0M42.8M46.5M52.5M59.1M30.0M
Total Liab7.0M695.9K812.3K909.0K186.2K176.8K
Common Stock109.5M136.6M145.2M157.9M158.1M91.1M
Total Current Liabilities617.7K610.2K726.0K886.1K186.2K176.8K
Property Plant And Equipment Net21.7M29.7M38.4M43.7M2.0M1.9M
Net Debt1.3M(12.7M)(6.9M)(7.3M)(4.3M)(4.5M)
Cash5.1M12.8M7.1M7.4M4.3M4.2M
Non Current Assets Total21.7M29.7M38.4M43.7M53.3M55.9M
Non Currrent Assets Other(21.58)(24.69)(49.22)(126.4)2.0M2.1M
Cash And Short Term Investments5.1M12.8M7.1M7.4M4.3M4.3M
Net Receivables70.4K89.3K23.8K76.6K6.7K6.4K
Other Current Assets69.0K212.5K1.0M1.4M1.5M1.5M
Other Stockholder Equity16.8M25.9M26.6M28.7M30.1M20.0M
Property Plant And Equipment Gross21.7M29.7M38.7M43.9M2.1M2.0M
Total Current Assets5.2M13.1M8.1M8.9M5.8M4.7M
Accounts Payable592.0K582.4K660.5K826.4K163.2K155.1K
Accumulated Other Comprehensive Income(2.0M)(3.0M)(3.0M)(6.0M)(849.6K)(892.1K)
Short Term Debt25.7K27.9K65.6K59.7K22.9K21.8K
Intangible Assets21.5824.6949.22126.418.5K17.5K
Net Tangible Assets20.0M42.1M45.7M51.5M59.2M62.2M
Property Plant Equipment21.7M29.7M38.4M43.5M50.1M52.6M
Capital Surpluse16.1M16.8M25.9M26.6M30.6M19.4M
Net Invested Capital26.2M42.1M45.7M51.6M58.9M40.4M
Net Working Capital4.6M12.5M7.4M8.0M5.6M6.8M
Capital Stock109.5M136.6M145.2M157.9M158.1M148.7M

Pair Trading with Erdene Resource

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Erdene Resource position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Erdene Resource will appreciate offsetting losses from the drop in the long position's value.

Moving together with Erdene Stock

  0.63AG First Majestic SilverPairCorr
  0.67FDY Faraday Copper CorpPairCorr

Moving against Erdene Stock

  0.47NG NovaGold ResourcesPairCorr
The ability to find closely correlated positions to Erdene Resource could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Erdene Resource when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Erdene Resource - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Erdene Resource Development to buy it.
The correlation of Erdene Resource is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Erdene Resource moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Erdene Resource Deve moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Erdene Resource can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching

Other Information on Investing in Erdene Stock

Balance Sheet is a snapshot of the financial position of Erdene Resource Deve at a specified time, usually calculated after every quarter, six months, or one year. Erdene Resource Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of Erdene Resource and are divided into current liabilities and long term liabilities. An asset, on the other hand, is anything of value that can be converted into cash and which Erdene currently owns. An asset can also be divided into two categories, current and non-current.