Major Drilling Group International (TSE:MDI) Shares Cross Above 200-Day Moving Average of $8.32

Major Drilling Group International Inc. (TSE:MDI) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$8.32 and traded as high as C$9.77. Major Drilling Group International shares last traded at C$9.68, with a volume of 117,905 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, TD Securities decreased their target price on shares of Major Drilling Group International from C$14.50 to C$14.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th.

Major Drilling Group International Price Performance

The company has a market cap of C$791.73 million, a P/E ratio of 12.57, a P/E/G ratio of 3.45 and a beta of 1.66. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.92 and a current ratio of 3.75. The firm’s fifty day moving average is C$8.52 and its two-hundred day moving average is C$8.32.

Major Drilling Group International (TSE:MDI) last issued its earnings results on Thursday, February 29th. The company reported C($0.03) earnings per share for the quarter. Major Drilling Group International had a return on equity of 14.08% and a net margin of 8.84%. The firm had revenue of C$132.82 million during the quarter. As a group, analysts anticipate that Major Drilling Group International Inc. will post 0.7854114 earnings per share for the current fiscal year.

Major Drilling Group International Company Profile

Major Drilling Group International Inc provides contract drilling services for mining and mineral exploration companies. The company offers a suite of drilling services, including surface and underground coring, directional, reverse circulation, sonic, geotechnical, environmental, water-well, coal-bed methane, shallow gas, underground percussive, longhole drilling, surface drill and blast, and related mining services.