Major Drilling Group International (TSE:MDI) Stock Price Passes Above 200 Day Moving Average of $8.38

Shares of 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$8.38 and traded as high as C$9.79. Major Drilling Group International shares last traded at C$9.72, with a volume of 40,016 shares traded.

Wall Street Analyst Weigh In

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

Major Drilling Group International Price Performance

The company has a quick ratio of 1.92, a current ratio of 3.75 and a debt-to-equity ratio of 1.05. The company has a market capitalization of C$811.36 million, a P/E ratio of 12.88, a PEG ratio of 3.45 and a beta of 1.66. The business has a 50 day simple moving average of C$8.76 and a 200-day simple moving average of C$8.40.

Major Drilling Group International (TSE:MDI) last issued its quarterly 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 for the quarter. Major Drilling Group International had a net margin of 8.84% and a return on equity of 14.08%. Analysts predict that Major Drilling Group International Inc. will post 0.7854114 EPS 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.