Major Drilling Group International (TSE:MDI) Stock Crosses Above 200-Day Moving Average – Here’s Why

Major Drilling Group International Inc. (TSE:MDI) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$9.68 and traded as high as C$11.98. Major Drilling Group International shares last traded at C$11.79, with a volume of 131,337 shares trading hands.

Major Drilling Group International Trading Down 0.3%

The stock has a market capitalization of C$966.11 million, a PE ratio of 47.16, a PEG ratio of 3.45 and a beta of 1.05. The company has a quick ratio of 1.92, a current ratio of 3.59 and a debt-to-equity ratio of 1.17. The business’s 50-day moving average is C$11.39 and its two-hundred day moving average is C$9.68.

Insider Activity

In other news, insider Denis Joseph Larocque purchased 4,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was purchased at an average cost of C$9.79 per share, with a total value of C$39,160.00. Following the completion of the acquisition, the insider directly owned 88,275 shares of the company’s stock, valued at approximately C$864,212.25. This trade represents a 4.75% increase in their position. Also, insider John Ross Davies sold 20,000 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of C$11.79, for a total transaction of C$235,800.00. Corporate insiders own 0.32% of the company’s stock.

About Major Drilling Group International

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.