BMO Capital Markets Forecasts Strong Price Appreciation for MCAN Mortgage (TSE:MKP) Stock

MCAN Mortgage (TSE:MKP) had its price target lifted by BMO Capital Markets from C$20.00 to C$21.00 in a research note issued to investors on Monday,BayStreet.CA reports. BMO Capital Markets’ price target suggests a potential downside of 3.67% from the stock’s previous close.

MCAN Mortgage Stock Performance

Shares of MKP opened at C$21.80 on Monday. The company has a market capitalization of C$876.77 million, a PE ratio of 11.91 and a beta of 0.51. The company’s 50 day moving average price is C$21.54 and its 200 day moving average price is C$20.48. MCAN Mortgage has a 52 week low of C$16.70 and a 52 week high of C$22.47.

MCAN Mortgage Company Profile

MCAN Financial Group is a mortgage investment company whose objective is to generate a reliable stream of income by investing its funds in a portfolio of mortgages (including single family residential, residential construction, non-residential construction and commercial loans), as well as other types of loans and investments, real estate and securitization investments.