Major Drilling Group International (TSE:MDI) Shares Pass Above 200 Day Moving Average – What’s Next?

Shares of Major Drilling Group International Inc. (TSE:MDI) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$11.95 and traded as high as C$15.48. Major Drilling Group International shares last traded at C$15.46, with a volume of 135,198 shares trading hands.

Analyst Upgrades and Downgrades

MDI has been the topic of several recent analyst reports. TD Securities raised their target price on shares of Major Drilling Group International from C$13.00 to C$16.00 and gave the company a “buy” rating in a report on Friday, December 5th. Royal Bank Of Canada raised their target price on Major Drilling Group International from C$14.00 to C$17.00 in a report on Tuesday, December 16th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Major Drilling Group International currently has a consensus rating of “Buy” and an average target price of C$16.50.

Major Drilling Group International Price Performance

The firm has a market cap of C$1.27 billion, a P/E ratio of 81.37, a price-to-earnings-growth ratio of 3.45 and a beta of 1.51. The company has a current ratio of 3.59, a quick ratio of 1.92 and a debt-to-equity ratio of 1.17. The business has a 50-day moving average of C$14.01 and a two-hundred day moving average of C$11.95.

Insider Buying and Selling

In other Major Drilling Group International news, insider Benjamin Luke Graham sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of C$16.32, for a total transaction of C$163,200.00. 0.32% of the stock is currently owned by corporate insiders.

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.