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

Key Points

• Major Drilling (TSE:MDI) crossed above its 200-day moving average (C$14.74) on Friday, trading as high as C$15.72 and last at C$15.51 on volume of 95,447 shares.
• Analysts have raised targets recently — Royal Bank of Canada lifted its target to C$20 (outperform) and TD Securities to C$21 (buy), leaving a consensus "Buy" rating with an average price target of C$20.50.
• The stock shows a high valuation and leverage with a PE of 86.17 and a debt-to-equity ratio of 7.68, and a market capitalization of C$1.27 billion.

Major Drilling Group International Inc. (TSE:MDI - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$14.74 and traded as high as C$15.72. Major Drilling Group International shares last traded at C$15.51, with a volume of 95,447 shares.

Analysts Set New Price Targets

MDI has been the topic of a number of recent analyst reports. Royal Bank Of Canada increased their price target on shares of Major Drilling Group International from C$17.00 to C$20.00 and gave the stock an "outperform" rating in a report on Tuesday, February 24th. TD Securities increased their price target on shares of Major Drilling Group International from C$16.00 to C$21.00 and gave the stock a "buy" rating in a report on Friday, February 27th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of C$20.50.

Major Drilling Group International Trading Down 1.0%

The company has a debt-to-equity ratio of 7.68, a current ratio of 2.71 and a quick ratio of 1.92. The firm has a market capitalization of C$1.27 billion, a PE ratio of 86.17, a P/E/G ratio of 3.45 and a beta of 1.62. The company's fifty day simple moving average is C$16.75 and its 200-day simple moving average is C$14.74.

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. Its geographical segments are Canada - the United States; South and Central America; and Asia and Africa, of which most of its revenue comes from Canada - the United States.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.