Major Drilling Group International (TSE:MDI) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Major Drilling Group International Inc. (TSE:MDI) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$16.18 and traded as high as C$16.45. Major Drilling Group International shares last traded at C$16.05, with a volume of 186,485 shares.

Analyst Upgrades and Downgrades

MDI has been the subject of a number of recent analyst reports. Royal Bank Of Canada set a C$20.00 target price on Major Drilling Group International and gave the company an “outperform” rating in a report on Friday, June 5th. TD raised their price objective on shares of Major Drilling Group International from C$21.00 to C$22.00 and gave the company a “buy” rating in a research report on Friday, June 12th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$21.00.

Major Drilling Group International Trading Down 0.8%

The company has a debt-to-equity ratio of 6.80, a current ratio of 2.39 and a quick ratio of 1.92. The stock has a market cap of C$1.31 billion, a P/E ratio of 49.75, a PEG ratio of 3.45 and a beta of 1.73. The firm’s fifty day moving average price is C$15.57 and its two-hundred day moving average price is C$16.18.

Major Drilling Group International (TSE:MDI) last posted its quarterly earnings data on Wednesday, September 2nd. The company reported C$0.18 earnings per share (EPS) for the quarter. The company had revenue of C$277.35 million during the quarter. Major Drilling Group International had a return on equity of 4.61% and a net margin of 2.74%. As a group, equities research analysts forecast that Major Drilling Group International Inc. will post 0.5757162 EPS for the current year.

About Major Drilling Group International

Major Drilling Group International Inc is the world’s largest provider of drilling services in the metals and mining industry. The diverse needs of the Company’s global clientele are met through field operations and registered offices that span across North America, South America, Australia, Asia, Africa, and Europe. Established in 1980, the Company has grown to become a global brand in the mining space, known for tackling many of the world’s most challenging drilling projects. Supported by a highly skilled workforce, Major Drilling is led by an experienced senior management team that has steered it through various economic and mining cycles, supported by regional managers known for delivering decades of superior project management.