Major Drilling Group International (TSE:MDI) Stock Passes Above 200-Day Moving Average - What's Next?

Key Points

• Major Drilling Group International's stock price rose above its 200-day moving average of C$8.52, trading as high as C$9.23.
• Insider sales occurred recently, with Senior Officer John Ross Davies selling 36,000 shares at an average price of C$9.25.
• The company, with a market cap of C$746.42 million, is involved in contract drilling services for the mining and mineral exploration sectors.

Major Drilling Group International Inc. (TSE:MDI - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$8.52 and traded as high as C$9.23. Major Drilling Group International shares last traded at C$9.13, with a volume of 39,661 shares changing hands.

Major Drilling Group International Stock Up 1.7%

The company has a quick ratio of 1.92, a current ratio of 3.59 and a debt-to-equity ratio of 1.17. The stock has a 50 day simple moving average of C$9.04 and a 200 day simple moving average of C$8.53. The stock has a market cap of C$805.35 million, a price-to-earnings ratio of 30.75, a PEG ratio of 3.45 and a beta of 0.87.

Insider Buying and Selling

In other Major Drilling Group International news, Senior Officer John Ross Davies sold 36,000 shares of the firm's 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 value of C$333,000.00. Also, Senior Officer Barry Lee Zerbin sold 6,000 shares of the firm's stock in a transaction that occurred on Thursday, June 19th. The shares were sold at an average price of C$9.25, for a total value of C$55,500.00. Company insiders own 0.32% of the company's stock.

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.