MCAN Mortgage (TSE:MKP) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

MCAN Mortgage Co. (TSE:MKP)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$17.75 and traded as high as C$18.75. MCAN Mortgage shares last traded at C$18.28, with a volume of 83,674 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group set a C$19.00 target price on MCAN Mortgage and gave the stock a “buy” rating in a research note on Tuesday, October 15th.

MCAN Mortgage Stock Performance

The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 373.58. The company has a market capitalization of C$698.53 million, a PE ratio of 8.32 and a beta of 0.85. The firm’s 50-day simple moving average is C$18.76 and its 200-day simple moving average is C$17.76.

MCAN Mortgage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were paid a $0.39 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 8.52%. MCAN Mortgage’s dividend payout ratio (DPR) is currently 70.91%.

About MCAN Mortgage

MCAN Mortgage Corporation operates as a loan and mortgage investment corporation in Canada. The company engages in the real estate lending and investing activities, including residential mortgage, residential construction, non-residential construction, and commercial loans, as well as portfolio of real estate investments trusts and private investment activities.