Major Drilling Group International (TSE:MDI) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Major Drilling Group International Inc. (TSE:MDI)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$16.14 and traded as high as C$17.82. Major Drilling Group International shares last traded at C$17.71, with a volume of 146,190 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MDI shares. TD lifted their price objective on Major Drilling Group International from C$21.00 to C$22.00 and gave the company a “buy” rating in a research note on Friday, June 12th. Royal Bank Of Canada set a C$20.00 target price on Major Drilling Group International and gave the company an “outperform” rating in a report on Friday, June 5th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Major Drilling Group International has a consensus rating of “Buy” and a consensus target price of C$21.00.

Major Drilling Group International Stock Down 1.3%

The company has a debt-to-equity ratio of 6.32, a current ratio of 2.43 and a quick ratio of 1.92. The stock has a market capitalization of C$1.44 billion, a P/E ratio of 67.42, a PEG ratio of 3.45 and a beta of 1.65. The stock’s fifty day moving average is C$15.20 and its two-hundred day moving average is C$16.16.

Major Drilling Group International (TSE:MDI) last released its quarterly earnings data on Wednesday, June 10th. The company reported C$0.10 earnings per share for the quarter. The firm had revenue of C$233.69 million for the quarter. Major Drilling Group International had a net margin of 2.40% and a return on equity of 3.91%. As a group, research analysts predict that Major Drilling Group International Inc. will post 0.5757162 earnings per share for the current fiscal year.

Insider Buying and Selling at Major Drilling Group International

In other news, Director Jo Mark Zurel sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of C$17.84, for a total transaction of C$107,040.00. Following the completion of the transaction, the director directly owned 5,600 shares in the company, valued at C$99,904. The trade was a 51.72% decrease in their ownership of the stock. Corporate insiders own 0.32% of the company’s stock.

Major Drilling Group International Company Profile

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.