Major Drilling Group International (TSE:MDI) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Major Drilling Group International Inc. (TSE:MDI)’s stock price crossed 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 changing hands.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MDI shares. Royal Bank Of Canada lifted their price objective on shares of Major Drilling Group International from C$14.00 to C$17.00 in a research report on Tuesday, December 16th. TD Securities lifted their price objective 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 note on Friday, December 5th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Major Drilling Group International has a consensus rating of “Buy” and an average price target of C$16.50.

Major Drilling Group International Stock Up 5.3%

The business has a fifty day moving average price of C$14.01 and a two-hundred day moving average price of C$11.97. 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 company has a market cap of C$1.27 billion, a price-to-earnings ratio of 81.37, a P/E/G ratio of 3.45 and a beta of 1.51.

Insider Buying and Selling at Major Drilling Group International

In other Major Drilling Group International news, insider Benjamin Luke Graham sold 10,000 shares of the company’s 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. Corporate insiders own 0.32% of the company’s stock.

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.