MCAN Mortgage (TSE:MKP) Hits New 52-Week High – Still a Buy?

MCAN Mortgage Co. (TSE:MKP) shares hit a new 52-week high on Tuesday . The company traded as high as C$24.50 and last traded at C$23.75, with a volume of 6649 shares traded. The stock had previously closed at C$23.00.

Analyst Ratings Changes

Separately, BMO Capital Markets increased their price target on shares of MCAN Mortgage from C$20.00 to C$21.00 and gave the company a “hold” rating in a research note on Monday, November 10th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, MCAN Mortgage has an average rating of “Hold” and an average price target of C$21.00.

MCAN Mortgage Trading Up 0.6%

The company has a market capitalization of C$965.66 million, a P/E ratio of 14.55 and a beta of 0.46. The company has a 50 day moving average price of C$22.68 and a 200 day moving average price of C$21.97.

About MCAN Mortgage

MCAN Financial Group is a mortgage investment company whose objective is to generate a reliable stream of income by investing its funds in a portfolio of mortgages (including single family residential, residential construction, non-residential construction and commercial loans), as well as other types of loans and investments, real estate and securitization investments. The company derives most of its revenues from mortgage income and equity income.