Major Drilling Group International (TSE:MDI) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

Major Drilling Group International Inc. (TSE:MDI)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$13.72 and traded as high as C$15.70. Major Drilling Group International shares last traded at C$15.27, with a volume of 187,345 shares traded.

Analysts Set New Price Targets

MDI has been the subject of a number of research analyst reports. TD Securities increased their price target on shares of Major Drilling Group International from C$16.00 to C$21.00 and gave the company a “buy” rating in a report on Friday, February 27th. Royal Bank Of Canada upped their target price on shares of Major Drilling Group International from C$17.00 to C$20.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$20.50.

Major Drilling Group International Stock Performance

The firm has a fifty day moving average of C$16.19 and a 200-day moving average of C$13.75. The company has a quick ratio of 1.92, a current ratio of 2.71 and a debt-to-equity ratio of 7.68. The stock has a market capitalization of C$1.28 billion, a price-to-earnings ratio of 86.39, a PEG ratio of 3.45 and a beta of 1.61.

Insider Buying and Selling

In other Major Drilling Group International news, insider Benjamin Luke Graham sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of C$16.32, for a total transaction of C$163,200.00. Insiders own 0.32% of the company’s stock.

About Major Drilling Group International

Major Drilling Group International Inc is engaged in the business of contract drilling, and it provides services to companies that are involved in mining and mineral exploration. It offers surface and underground coring, directional, reverse circulation, sonic, geotechnical, environmental, water-well, coal-bed methane, shallow gas, and underground percussive/long-hole drilling services, as well as various drilling-related mine services. Its geographical segments are Canada – the United States; South and Central America; and Asia and Africa, of which most of its revenue comes from Canada – the United States.