Major Drilling Group International (TSE:MDI) Shares Cross Above 200 Day Moving Average - Here's What Happened

Key Points

• Major Drilling Group International Inc. shares surpassed their 200-day moving average, indicating a potential bullish trend, with the stock last trading at C$9.56.
• The company reported a market cap of C$782.44 million, a P/E ratio of 29.88, and a debt-to-equity ratio of 1.17, reflecting its financial health.
• Recent insider activity included Senior Officer John Ross Davies selling 36,000 shares for C$333,000, suggesting confidence or potential restructuring within the company.

Major Drilling Group International Inc. (TSE:MDI - ) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$8.57 and traded as high as C$9.58. Major Drilling Group International shares last traded at C$9.56, with a volume of 135,009 shares traded.

Major Drilling Group International Trading Up 1.5%

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 stock has a 50 day moving average of C$9.16 and a 200 day moving average of C$8.57. The firm has a market cap of C$782.44 million, a P/E ratio of 29.88, a PEG ratio of 3.45 and a beta of 0.89.

Insiders Place Their Bets

In related news, Senior Officer John Ross Davies sold 36,000 shares of Major Drilling Group International stock in a transaction that occurred 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 stock in a transaction dated Thursday, June 19th. The stock was sold at an average price of C$9.25, for a total transaction of C$55,500.00. 0.32% of the stock is owned by company insiders.

About Major Drilling Group International

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.