Major Drilling Group International (TSE:MDI) Share Price Passes Above 200-Day Moving Average – What’s Next?

Major Drilling Group International Inc. (TSE:MDI) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$8.66 and traded as high as C$8.66. Major Drilling Group International shares last traded at C$8.65, with a volume of 62,850 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada lowered their price target on shares of Major Drilling Group International from C$15.00 to C$14.00 in a report on Tuesday, December 10th.

Major Drilling Group International Stock Performance

The company has a market capitalization of C$707.92 million, a PE ratio of 15.18, a PEG ratio of 3.45 and a beta of 1.65. The firm has a 50-day moving average of C$8.53 and a two-hundred day moving average of C$8.66. The company has a quick ratio of 1.92, a current ratio of 3.35 and a debt-to-equity ratio of 1.29.

Insider Activity

In other Major Drilling Group International news, Senior Officer Benjamin Luke Graham sold 12,400 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of C$8.80, for a total transaction of C$109,144.95. 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.