MCAN Mortgage (TSE:MKP) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

MCAN Mortgage Co. (TSE:MKP) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$21.02 and traded as high as C$22.31. MCAN Mortgage shares last traded at C$22.23, with a volume of 35,524 shares trading hands.

Analyst Ratings Changes

Separately, BMO Capital Markets upped their price target on MCAN Mortgage from C$20.00 to C$21.00 and gave the stock a “hold” rating in a research note on Monday, November 10th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, MCAN Mortgage currently has an average rating of “Hold” and an average target price of C$21.00.

MCAN Mortgage Price Performance

The business’s fifty day moving average price is C$21.76 and its 200-day moving average price is C$21.03. The stock has a market capitalization of C$896.48 million, a price-to-earnings ratio of 13.51 and a beta of 0.49.

MCAN Mortgage (TSE:MKP) last posted its earnings results on Thursday, November 6th. The company reported C$0.52 earnings per share for the quarter. MCAN Mortgage had a net margin of 52.77% and a return on equity of 15.63%. The company had revenue of C$37.85 million for the quarter. Equities research analysts predict that MCAN Mortgage Co. will post 2.5108359 earnings per share for the current fiscal year.

MCAN Mortgage Company Profile

MCAN Financial Group is a mortgage investment company whose objective is to generate a reliable stream of income by investing its funds in a portfolio of mortgages (including single family residential, residential construction, non-residential construction and commercial loans), as well as other types of loans and investments, real estate and securitization investments. The company derives most of its revenues from mortgage income and equity income.