Major Drilling Group International (TSE:MDI) Stock Price Breaks Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Major Drilling Group International Inc. (TSE:MDI) crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$16.12 and traded as high as C$17.30. Major Drilling Group International shares last traded at C$17.08, with a volume of 58,586 shares changing hands.

Analyst Upgrades and Downgrades

Separately, TD upped 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 research report on Friday, June 12th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Major Drilling Group International presently has an average rating of “Buy” and a consensus target price of C$21.00.

Major Drilling Group International Trading Down 1.7%

The company has a quick ratio of 1.92, a current ratio of 2.39 and a debt-to-equity ratio of 6.80. The company’s 50-day moving average is C$16.40 and its 200 day moving average is C$16.13. The company has a market cap of C$1.30 billion, a price-to-earnings ratio of 49.56, a price-to-earnings-growth ratio of 3.45 and a beta of 1.69.

Major Drilling Group International (TSE:MDI) last issued its quarterly earnings data on Wednesday, September 2nd. The company reported C$0.18 earnings per share for the quarter. Major Drilling Group International had a net margin of 2.74% and a return on equity of 4.61%. The business had revenue of C$277.35 million during the quarter. Research analysts predict that Major Drilling Group International Inc. will post 0.5757162 EPS for the current year.

About Major Drilling Group International

Major Drilling Group International Inc is the world’s largest provider of drilling services in the metals and mining industry. The diverse needs of the Company’s global clientele are met through field operations and registered offices that span across North America, South America, Australia, Asia, Africa, and Europe. Established in 1980, the Company has grown to become a global brand in the mining space, known for tackling many of the world’s most challenging drilling projects. Supported by a highly skilled workforce, Major Drilling is led by an experienced senior management team that has steered it through various economic and mining cycles, supported by regional managers known for delivering decades of superior project management.