Major Drilling Group International (TSE:MDI) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Major Drilling Group International Inc. (TSE:MDI) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$12.39 and traded as high as C$16.98. Major Drilling Group International shares last traded at C$16.74, with a volume of 120,757 shares trading hands.

Analysts Set New Price Targets

Several analysts recently commented on the stock. TD Securities raised their price target on shares of Major Drilling Group International from C$13.00 to C$16.00 and gave the company a “buy” rating in a research 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 research report on Tuesday, December 16th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$16.50.

Major Drilling Group International Price Performance

The company has a quick ratio of 1.92, a current ratio of 3.59 and a debt-to-equity ratio of 1.17. The company has a market capitalization of C$1.37 billion, a price-to-earnings ratio of 88.11, a PEG ratio of 3.45 and a beta of 1.51. The stock’s 50-day simple moving average is C$14.50 and its two-hundred day simple moving average is C$12.39.

Insider Transactions at Major Drilling Group International

In other Major Drilling Group International news, insider Benjamin Luke Graham sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of C$16.32, for a total transaction of C$163,200.00. Insiders own 0.32% of the company’s stock.

Major Drilling Group International Company Profile

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.