Major Drilling Group International (TSE:MDI) Shares Cross Above 200 Day Moving Average of $8.32

Major Drilling Group International Inc. (TSE:MDI) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$8.32 and traded as high as C$9.77. Major Drilling Group International shares last traded at C$9.68, with a volume of 117,905 shares changing hands.

Analyst Ratings Changes

Separately, TD Securities cut their price objective on shares of 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 Price Performance

The company’s fifty day moving average is C$8.59 and its two-hundred day moving average is C$8.34. The firm has a market capitalization of C$808.09 million, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 3.45 and a beta of 1.66. The company has a quick ratio of 1.92, a current ratio of 3.75 and a debt-to-equity ratio of 1.05.

Major Drilling Group International (TSE:MDI) last posted its earnings results on Thursday, February 29th. The company reported C($0.03) earnings per share for the quarter. The firm had revenue of C$132.82 million during the quarter. Major Drilling Group International had a return on equity of 14.08% and a net margin of 8.84%. Equities research analysts anticipate that Major Drilling Group International Inc. will post 0.7854114 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.