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

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

Analyst Upgrades and Downgrades

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

MCAN Mortgage Stock Up 1.2%

The firm has a market capitalization of C$962.84 million, a PE ratio of 14.51 and a beta of 0.46. The business has a 50-day moving average price of C$22.64 and a 200-day moving average price of C$21.93.

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.