Major Drilling Group International (TSE:MDI) Stock Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Major Drilling crossed above its 200-day moving average, trading as high as C$16.76 and last at C$16.59 versus the 200-day MA of C$13.25, on volume of 166,871 shares.
• Analysts are bullish: TD Securities raised its target to C$21 (buy) and RBC to C$20 (outperform), leaving an average analyst target of C$20.50 and a consensus rating of "Buy."
• Valuation and balance-sheet note: the company has a market cap of C$1.36B but a high P/E of 92.17 and elevated debt-to-equity of 7.68, alongside healthy liquidity (current ratio 2.71).

Major Drilling Group International Inc. (TSE:MDI - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$13.25 and traded as high as C$16.76. Major Drilling Group International shares last traded at C$16.59, with a volume of 166,871 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MDI shares. TD Securities raised their price objective on shares of Major Drilling Group International from C$16.00 to C$21.00 and gave the company a "buy" rating in a research report on Friday, February 27th. Royal Bank Of Canada boosted their target price on Major Drilling Group International from C$17.00 to C$20.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 24th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of C$20.50.

Major Drilling Group International Trading Up 0.4%

The company has a market cap of C$1.36 billion, a price-to-earnings ratio of 92.17, a P/E/G ratio of 3.45 and a beta of 1.61. The business has a fifty day simple moving average of C$15.68 and a 200 day simple moving average of C$13.25. The company has a quick ratio of 1.92, a current ratio of 2.71 and a debt-to-equity ratio of 7.68.

Insider Activity at Major Drilling Group International

In related news, insider Benjamin Luke Graham sold 10,000 shares of the business's stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of C$16.32, for a total transaction of C$163,200.00. 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. 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.

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