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

Shares of Major Drilling Group International Inc. (TSE:MDI) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$15.21 and traded as high as C$16.23. Major Drilling Group International shares last traded at C$15.97, with a volume of 260,850 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. TD Securities boosted their target price on shares of Major Drilling Group International from C$16.00 to C$21.00 and gave the company a “buy” rating in a report on Friday, February 27th. Royal Bank Of Canada boosted their target price on shares of Major Drilling Group International from C$17.00 to C$20.00 and gave the company an “outperform” rating in a report on Tuesday, February 24th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Major Drilling Group International has an average rating of “Buy” and an average target price of C$20.50.

Major Drilling Group International Trading Up 1.8%

The stock has a market cap of C$1.40 billion, a P/E ratio of 95.00, a PEG ratio of 3.45 and a beta of 1.69. The firm’s fifty day moving average price is C$16.40 and its two-hundred day moving average price is C$15.24. The company has a debt-to-equity ratio of 7.68, a current ratio of 2.71 and a quick ratio of 1.92.

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.