Major Drilling Group International (TSE:MDI) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Major Drilling Group International Inc. (TSE:MDI) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$13.72 and traded as high as C$15.70. Major Drilling Group International shares last traded at C$15.27, with a volume of 187,345 shares traded.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MDI shares. Royal Bank Of Canada lifted their price target on shares of Major Drilling Group International from C$17.00 to C$20.00 and gave the company an “outperform” rating in a report on Tuesday, February 24th. TD Securities upped their price objective on shares of Major Drilling Group International from C$16.00 to C$21.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$20.50.

Major Drilling Group International Trading Down 3.7%

The company has a debt-to-equity ratio of 7.68, a quick ratio of 1.92 and a current ratio of 2.71. The stock has a market cap of C$1.25 billion, a P/E ratio of 84.83, a P/E/G ratio of 3.45 and a beta of 1.61. The company has a 50-day simple moving average of C$16.16 and a 200-day simple moving average of C$13.72.

Insider Buying and Selling

In other Major Drilling Group International news, insider Benjamin Luke Graham sold 10,000 shares of the stock in a transaction dated 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.