MCAN Mortgage (TSE:MKP) Stock Crosses Above 200-Day Moving Average – Here’s Why

Shares of MCAN Mortgage Co. (TSE:MKP) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$17.19 and traded as high as C$19.62. MCAN Mortgage shares last traded at C$19.35, with a volume of 47,178 shares.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group set a C$19.00 price objective on shares of MCAN Mortgage and gave the stock a “buy” rating in a report on Tuesday, October 15th.

MCAN Mortgage Stock Down 1.8 %

The company has a 50-day moving average of C$18.39 and a two-hundred day moving average of C$17.19. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 373.58. The company has a market capitalization of C$738.20 million, a P/E ratio of 8.80 and a beta of 0.85.

MCAN Mortgage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 8.06%. The ex-dividend date is Friday, December 13th. MCAN Mortgage’s dividend payout ratio is presently 70.91%.

About MCAN Mortgage

MCAN Mortgage Corporation operates as a loan and mortgage investment corporation in Canada. The company engages in the real estate lending and investing activities, including residential mortgage, residential construction, non-residential construction, and commercial loans, as well as portfolio of real estate investments trusts and private investment activities.