Major Drilling Group International (TSE:MDI) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Major Drilling Group International Inc. (TSE:MDI) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$15.04 and traded as high as C$15.86. Major Drilling Group International shares last traded at C$15.34, with a volume of 137,966 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. TD Securities raised their target price on Major Drilling Group International from C$16.00 to C$21.00 and gave the company a “buy” rating in a report on Friday, February 27th. Royal Bank Of Canada raised their target price on Major Drilling Group International from C$17.00 to C$20.00 and gave the company an “outperform” rating in a report on Tuesday, February 24th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$20.50.

Major Drilling Group International Stock Down 4.6%

The stock has a fifty day moving average of C$16.49 and a 200 day moving average of C$15.04. The firm has a market capitalization of C$1.26 billion, a P/E ratio of 85.22, a price-to-earnings-growth ratio of 3.45 and a beta of 1.69. The company has a debt-to-equity ratio of 7.68, a current ratio of 2.71 and a quick ratio of 1.92.

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. 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.