Major Drilling Group International (TSE:MDI) Shares Cross Above 200 Day Moving Average – Should You Sell?

Major Drilling Group International Inc. (TSE:MDI) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$8.68 and traded as high as C$8.95. Major Drilling Group International shares last traded at C$8.80, with a volume of 106,896 shares changing hands.

Wall Street Analyst Weigh In

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

Major Drilling Group International Trading Down 0.3 %

The company has a 50 day moving average of C$8.53 and a 200 day moving average of C$8.68. The firm has a market cap of C$720.19 million, a P/E ratio of 15.44, a PEG 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.

Insider Activity at Major Drilling Group International

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

Major Drilling Group International Company Profile

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.