Major Drilling Group International (TSE:MDI) Share 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 two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$14.74 and traded as high as C$15.72. Major Drilling Group International shares last traded at C$15.51, with a volume of 95,447 shares traded.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MDI shares. TD Securities raised 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 report on Friday, February 27th. Royal Bank Of Canada raised 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 report on Tuesday, February 24th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$20.50.

Major Drilling Group International Trading Down 1.0%

The company has a current ratio of 2.71, a quick ratio of 1.92 and a debt-to-equity ratio of 7.68. The firm has a market cap of C$1.27 billion, a PE ratio of 86.17, a P/E/G ratio of 3.45 and a beta of 1.62. The company’s 50-day moving average is C$16.75 and its 200 day moving average is C$14.76.

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.