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

Shares of Major Drilling Group International Inc. (TSE:MDI) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$8.66 and traded as high as C$8.66. Major Drilling Group International shares last traded at C$8.65, with a volume of 62,850 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada cut their target price on shares of Major Drilling Group International from C$15.00 to C$14.00 in a research note on Tuesday, December 10th.

Major Drilling Group International Price Performance

The firm has a market capitalization of C$688.27 million, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 3.45 and a beta of 1.65. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.92 and a current ratio of 3.35. The business has a fifty day moving average of C$8.52 and a two-hundred day moving average of C$8.65.

Insider Activity

In other Major Drilling Group International news, Senior Officer Benjamin Luke Graham sold 12,400 shares of Major Drilling Group International stock in a transaction dated Monday, December 9th. The shares were sold at an average price of C$8.80, for a total value of C$109,144.95. 0.32% of the stock is owned by company insiders.

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.