Major Drilling Group International (TSE:MDI) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Major Drilling Group International Inc. (TSE:MDI) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$13.25 and traded as high as C$16.76. Major Drilling Group International shares last traded at C$16.59, with a volume of 166,871 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Royal Bank Of Canada upped their price objective on 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. TD Securities lifted their target price on shares of Major Drilling Group International from C$16.00 to C$21.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Major Drilling Group International presently has an average rating of “Buy” and an average price target of C$20.50.

Major Drilling Group International Price Performance

The firm has a market capitalization of C$1.36 billion, a P/E ratio of 92.28, a PEG ratio of 3.45 and a beta of 1.61. The company has a fifty day moving average of C$15.84 and a 200 day moving average of C$13.29. The company has a debt-to-equity ratio of 7.68, a current ratio of 2.71 and a quick ratio of 1.92.

Insider Activity at Major Drilling Group International

In other news, insider Benjamin Luke Graham sold 10,000 shares of the stock in a transaction on Thursday, January 29th. The shares were sold at an average price of C$16.32, for a total transaction of C$163,200.00. 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.