Cidel Asset Management Inc. Makes New $7.43 Million Investment in MDA Space Ltd. $MDA

Cidel Asset Management Inc. acquired a new position in shares of MDA Space Ltd. (NYSE:MDA) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 250,224 shares of the company’s stock, valued at approximately $7,429,000.

A number of other institutional investors also recently bought and sold shares of MDA. Van ECK Associates Corp purchased a new stake in shares of MDA Space in the second quarter valued at about $135,771,000. Tidal Investments LLC acquired a new stake in shares of MDA Space during the second quarter worth about $53,428,000. TD Waterhouse Canada Inc. purchased a new position in shares of MDA Space during the second quarter worth about $28,441,000. Montrusco Bolton Investments Inc. purchased a new position in shares of MDA Space during the third quarter worth about $12,052,000. Finally, Allianz Asset Management GmbH purchased a new position in shares of MDA Space during the second quarter worth about $15,665,000.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Jefferies Financial Group restated a “buy” rating on shares of MDA Space in a research report on Tuesday, October 13th. National Bank Financial began coverage on MDA Space in a research report on Monday, September 14th. They set an “outperform” rating for the company. JPMorgan Chase & Co. lifted their target price on MDA Space from $43.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Royal Bank Of Canada reissued an “outperform” rating and issued a $60.00 target price on shares of MDA Space in a report on Monday, August 17th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $41.00 target price on shares of MDA Space in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $50.00.

MDA Space Price Performance

Shares of MDA opened at $27.19 on Friday. MDA Space Ltd. has a twelve month low of $23.23 and a twelve month high of $49.37. The stock’s 50 day moving average is $29.21 and its two-hundred day moving average is $33.45. The firm has a market capitalization of $4.41 billion and a PE ratio of 50.35. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 0.19.

MDA Space (NYSE:MDA) last issued its earnings results on Friday, August 7th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. MDA Space had a net margin of 5.68% and a return on equity of 9.42%. The company had revenue of $360.18 million for the quarter, compared to analyst estimates of $321.87 million. Research analysts anticipate that MDA Space Ltd. will post 0.96 earnings per share for the current year.

MDA Space Company Profile

MDA Space Ltd. is a Canadian space technology company that designs and delivers systems, products and services for government and commercial customers. Its activities span satellite communications, Earth observation, space robotics, geointelligence and lunar exploration, with capabilities covering mission planning, engineering, manufacturing and in-orbit support.

The company is known for developing space robotics and automation technologies, including systems used on the International Space Station, as well as satellite payloads, satellite subsystems and communications platforms.