Major Drilling Group International (OTCMKTS:MJDLF) Shares Pass Below 200 Day Moving Average – Should You Sell?

Shares of Major Drilling Group International Inc. (OTCMKTS:MJDLF) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.45 and traded as low as $11.13. Major Drilling Group International shares last traded at $11.13, with a volume of 68,062 shares.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada reissued an “outperform” rating on shares of Major Drilling Group International in a research report on Tuesday, February 24th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy”.

Major Drilling Group International Price Performance

The company’s fifty day moving average price is $12.16 and its 200 day moving average price is $11.45.

About Major Drilling Group International

Major Drilling Group International Inc is a Canada-based contract drilling services provider to the global mineral exploration and mining industries. The company specializes in a broad range of drilling techniques—including diamond and reverse circulation core drilling, directional drilling, sonic drilling, and geotechnical and environmental drilling—designed to locate and delineate mineral resources for clients across the precious and base metals sector.

Since its founding in 1980, Major Drilling has expanded its footprint to serve customers on six continents, with operating locations in North America, South America, Africa, Australia, Asia Pacific and Europe.