Major Drilling Group International (TSE:MDI) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Major Drilling Group International Inc. (TSE:MDI) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$15.43 and traded as high as C$18.22. Major Drilling Group International shares last traded at C$17.88, with a volume of 273,036 shares changing hands.

Analyst Upgrades and Downgrades

MDI has been the topic of a number of recent research reports. Royal Bank Of Canada lifted their target price on Major Drilling Group International from C$17.00 to C$20.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. TD Securities lifted their target price on Major Drilling Group International from C$16.00 to C$21.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of C$20.50.

Major Drilling Group International Price Performance

The company has a quick ratio of 1.92, a current ratio of 2.71 and a debt-to-equity ratio of 7.68. The firm has a market cap of C$1.47 billion, a P/E ratio of 99.33, a PEG ratio of 3.45 and a beta of 1.69. The business has a fifty day moving average of C$16.65 and a 200 day moving average of C$15.43.

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. Its geographical segments are Canada – the United States; South and Central America; and Asia and Africa, of which most of its revenue comes from Canada – the United States.