Major Drilling Group International (TSE:MDI) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Major Drilling Group International Inc. (TSE:MDI)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$8.61 and traded as high as C$9.32. Major Drilling Group International shares last traded at C$9.13, with a volume of 38,600 shares.

Analysts Set New Price Targets

Separately, Royal Bank of Canada lowered their price objective on shares of Major Drilling Group International from C$15.00 to C$14.00 in a research report on Tuesday, December 10th.

Major Drilling Group International Stock Performance

The firm’s fifty day moving average price is C$8.59 and its 200 day moving average price is C$8.61. The company has a current ratio of 3.59, a quick ratio of 1.92 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of C$740.70 million, a PE ratio of 17.78, a PEG ratio of 3.45 and a beta of 1.65.

Insider Activity

In related news, Senior Officer Benjamin Luke Graham sold 12,400 shares of Major Drilling Group International stock in a transaction on Monday, December 9th. The shares were sold at an average price of C$8.80, for a total value of C$109,144.95. 0.32% of the stock is currently owned by corporate insiders.

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.