Major Drilling Group International (TSE:MDI) Share Price Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• Major Drilling Group International shares crossed above their 200-day moving average, indicating positive price momentum, with the stock last trading at C$9.31.
• The company has a market capitalization of C$758.69 million and a P/E ratio of 18.21, reflecting its valuation in the market.
• Insider trading activity included the sale of 36,000 shares by Senior Officer John Ross Davies, and 6,000 shares by Barry Lee Zerbin, both at an average price of C$9.25.

Major Drilling Group International Inc. (TSE:MDI - Get Free Report)'s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$8.45 and traded as high as C$9.38. Major Drilling Group International shares last traded at C$9.31, with a volume of 93,846 shares.

Major Drilling Group International Trading Down 0.3%

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 company has a market cap of C$756.23 million, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 3.45 and a beta of 1.65. The business has a 50 day simple moving average of C$8.78 and a 200 day simple moving average of C$8.46.

Insiders Place Their Bets

In other news, Senior Officer John Ross Davies sold 36,000 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of C$9.25, for a total transaction of C$333,000.00. Also, Senior Officer Barry Lee Zerbin sold 6,000 shares of the business's stock in a transaction on Thursday, June 19th. The stock was sold at an average price of C$9.25, for a total value of C$55,500.00. 0.32% of the stock is currently owned by 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.