Major Drilling Group International (TSE:MDI) Shares Pass Above 200 Day Moving Average of $8.46

Major Drilling Group International Inc. (TSE:MDI)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$8.46 and traded as high as C$9.70. Major Drilling Group International shares last traded at C$9.50, with a volume of 61,226 shares traded.

Analysts Set New Price Targets

Separately, TD Securities cut their price target on Major Drilling Group International from C$14.50 to C$14.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th.

Major Drilling Group International Stock Performance

The stock’s 50-day simple moving average is C$8.91 and its 200 day simple moving average is C$8.46. The company has a market capitalization of C$777.01 million, a PE ratio of 12.34, a P/E/G ratio of 3.45 and a beta of 1.66. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.92 and a current ratio of 3.75.

Major Drilling Group International (TSE:MDI) last posted its earnings results on Thursday, February 29th. The company reported C($0.03) EPS for the quarter. The business had revenue of C$132.82 million during the quarter. Major Drilling Group International had a net margin of 8.84% and a return on equity of 14.08%. As a group, research analysts expect that Major Drilling Group International Inc. will post 0.7825371 earnings per share for the current fiscal year.

About Major Drilling Group International

Major Drilling Group International Inc provides contract drilling services for mining and mineral exploration companies. The company offers a suite of drilling services, including surface and underground coring, directional, reverse circulation, sonic, geotechnical, environmental, water-well, coal-bed methane, shallow gas, underground percussive, longhole drilling, surface drill and blast, and related mining services.