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

Shares of Major Drilling Group International Inc. (TSE:MDI) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$16.07 and traded as high as C$17.25. Major Drilling Group International shares last traded at C$17.16, with a volume of 210,915 shares.

Analyst Ratings Changes

A number of research analysts have issued reports on MDI shares. Royal Bank Of Canada set a C$20.00 target price on shares of Major Drilling Group International and gave the company an “outperform” rating in a report on Friday, June 5th. TD boosted their price target on Major Drilling Group International from C$21.00 to C$22.00 and gave the stock a “buy” rating in a research note on Friday, June 12th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Major Drilling Group International has a consensus rating of “Buy” and an average price target of C$21.00.

Major Drilling Group International Trading Up 3.4%

The firm has a market cap of C$1.41 billion, a PE ratio of 66.00, a PEG ratio of 3.45 and a beta of 1.65. The business has a 50-day moving average price of C$15.20 and a two-hundred day moving average price of C$16.07. The company has a debt-to-equity ratio of 6.32, a current ratio of 2.43 and a quick ratio of 1.92.

Major Drilling Group International (TSE:MDI) last released its quarterly earnings results on Wednesday, June 10th. The company reported C$0.10 earnings per share (EPS) for the quarter. Major Drilling Group International had a return on equity of 3.91% and a net margin of 2.40%.The business had revenue of C$233.69 million during the quarter. Analysts forecast that Major Drilling Group International Inc. will post 0.5757162 EPS for the current year.

Insider Buying and Selling at Major Drilling Group International

In other news, Director Jo Mark Zurel sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of C$17.84, for a total transaction of C$107,040.00. Following the completion of the transaction, the director directly owned 5,600 shares of the company’s stock, valued at C$99,904. This trade represents a 51.72% decrease in their position. 0.32% of the stock is currently owned by company insiders.

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.