Major Drilling Group International (TSE:MDI) Stock Passes Below 200 Day Moving Average – Time to Sell?

Major Drilling Group International Inc. (TSE:MDI) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$15.79 and traded as low as C$14.98. Major Drilling Group International shares last traded at C$15.19, with a volume of 192,029 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have commented on MDI. TD raised their price objective on Major Drilling Group International from C$21.00 to C$22.00 and gave the stock a “buy” rating in a report on Friday, June 12th. Royal Bank Of Canada set a C$20.00 target price on Major Drilling Group International and gave the stock an “outperform” rating in a report on Friday, June 5th. Finally, TD Securities raised their price target on Major Drilling Group International from C$16.00 to C$21.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, Major Drilling Group International presently has a consensus rating of “Buy” and a consensus target price of C$21.00.

Major Drilling Group International Price Performance

The company has a current ratio of 2.43, a quick ratio of 1.92 and a debt-to-equity ratio of 6.32. The firm’s 50-day moving average price is C$16.56 and its two-hundred day moving average price is C$15.80. The stock has a market cap of C$1.19 billion, a PE ratio of 55.65, a PEG ratio of 3.45 and a beta of 1.59.

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

Insider Activity at Major Drilling Group International

In related news, Director Jo Mark Zurel sold 6,000 shares of the company’s stock in a transaction 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 sale, the director directly owned 5,600 shares in the company, valued at C$99,904. This represents a 51.72% decrease in their position. 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.