MCAN Mortgage (TSE:MKP) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

MCAN Mortgage Co. (TSE:MKP) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$21.93 and traded as high as C$23.82. MCAN Mortgage shares last traded at C$23.65, with a volume of 46,828 shares changing hands.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets raised their price target on shares of MCAN Mortgage from C$20.00 to C$21.00 and gave the stock a “hold” rating in a research report on Monday, November 10th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$21.00.

MCAN Mortgage Stock Performance

The firm’s 50 day moving average is C$22.64 and its 200-day moving average is C$21.93. The stock has a market capitalization of C$951.18 million, a price-to-earnings ratio of 14.33 and a beta of 0.46.

About MCAN Mortgage

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.