Major Drilling Group International (TSE:MDI) Shares Pass Above Two Hundred Day Moving Average - Here's Why

Key Points

• Major Drilling Group International's stock price surpassed its 200-day moving average, trading as high as C$9.07 before closing at C$8.88.
• The company's insiders recently sold shares at an average price of C$9.25, with Senior Officer John Ross Davies selling 36,000 shares for a total of C$333,000.
• Major Drilling holds a market capitalization of C$725.98 million, a debt-to-equity ratio of 1.17, and a price-to-earnings ratio of 17.43.

Major Drilling Group International Inc. (TSE:MDI - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$8.50 and traded as high as C$9.07. Major Drilling Group International shares last traded at C$8.88, with a volume of 115,647 shares changing hands.

Major Drilling Group International Stock Down 0.3%

The firm has a fifty day simple moving average of C$8.99 and a 200-day simple moving average of C$8.51. The firm has a market cap of C$739.88 million, a price-to-earnings ratio of 17.76, a P/E/G ratio of 3.45 and a beta of 1.65. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.92 and a current ratio of 3.59.

Insiders Place Their Bets

In other news, Senior Officer John Ross Davies sold 36,000 shares of Major Drilling Group International 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 Major Drilling Group International 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 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.