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

Major Drilling Group International Inc. (TSE:MDI)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$8.61 and traded as high as C$9.32. Major Drilling Group International shares last traded at C$9.13, with a volume of 38,600 shares trading hands.

Analysts Set New Price Targets

Separately, Royal Bank of Canada cut their target price 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 1.8 %

The company has a debt-to-equity ratio of 1.17, a current ratio of 3.59 and a quick ratio of 1.92. The business’s 50-day moving average is C$8.58 and its two-hundred day moving average is C$8.61. The firm has a market cap of C$746.42 million, a P/E ratio of 17.92, a P/E/G ratio of 3.45 and a beta of 1.65.

Insider Transactions at Major Drilling Group International

In related news, Senior Officer Benjamin Luke Graham sold 12,400 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of C$8.80, for a total transaction of C$109,144.95. Company insiders own 0.32% of the company’s stock.

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.