Major Drilling Group International (TSE:MDI) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of Major Drilling Group International Inc. (TSE:MDI) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$16.11 and traded as high as C$16.39. Major Drilling Group International shares last traded at C$16.29, with a volume of 174,263 shares trading hands.

Analysts Set New Price Targets

MDI has been the subject of several analyst reports. Royal Bank Of Canada set a C$20.00 price objective on Major Drilling Group International and gave the stock an “outperform” rating in a research note on Friday, June 5th. TD lifted their target price on Major Drilling Group International from C$21.00 to C$22.00 and gave the company a “buy” rating in a research report on Friday, June 12th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$21.00.

Major Drilling Group International Trading Up 1.6%

The stock has a market capitalization of C$1.34 billion, a PE ratio of 50.91, a price-to-earnings-growth ratio of 3.45 and a beta of 1.73. The firm has a 50-day moving average price of C$15.69 and a 200-day moving average price of C$16.11. The company has a current ratio of 2.39, a quick ratio of 1.92 and a debt-to-equity ratio of 6.80.

Major Drilling Group International (TSE:MDI) last issued its quarterly earnings results on Wednesday, September 2nd. The company reported C$0.18 earnings per share for the quarter. The company had revenue of C$277.35 million for the quarter. Major Drilling Group International had a net margin of 2.74% and a return on equity of 4.61%. As a group, equities analysts forecast that Major Drilling Group International Inc. will post 0.5757162 EPS for the current fiscal year.

About Major Drilling Group International

Major Drilling Group International Inc is the world’s largest provider of drilling services in the metals and mining industry. The diverse needs of the Company’s global clientele are met through field operations and registered offices that span across North America, South America, Australia, Asia, Africa, and Europe. Established in 1980, the Company has grown to become a global brand in the mining space, known for tackling many of the world’s most challenging drilling projects. Supported by a highly skilled workforce, Major Drilling is led by an experienced senior management team that has steered it through various economic and mining cycles, supported by regional managers known for delivering decades of superior project management.