Major Drilling Group International (TSE:MDI) Stock Price Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• MDI crossed above its 200-day moving average (200‑day MA C$14.59), trading as high as C$17.11 and last at C$16.74 on volume of 146,622 shares.
• Analysts have raised targets—RBC to C$20 and TD to C$21—giving a consensus "Buy" rating and a consensus price target of C$20.50.
• Investors should note valuation and risk metrics: a high PE of 93.0, debt‑to‑equity of 7.68, market cap ~C$1.37B, and a recent insider sale of 10,000 shares.

Major Drilling Group International Inc. (TSE:MDI - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$14.59 and traded as high as C$17.11. Major Drilling Group International shares last traded at C$16.74, with a volume of 146,622 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MDI. Royal Bank Of Canada boosted their target price on shares of 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. TD Securities boosted their target price on shares of Major Drilling Group International from C$16.00 to C$21.00 and gave the stock a "buy" rating in a research report on Friday, February 27th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of C$20.50.

Major Drilling Group International Stock Down 0.8%

The company has a debt-to-equity ratio of 7.68, a quick ratio of 1.92 and a current ratio of 2.71. The firm's 50-day moving average is C$16.84 and its 200 day moving average is C$14.59. The firm has a market capitalization of C$1.37 billion, a PE ratio of 93.00, a price-to-earnings-growth ratio of 3.45 and a beta of 1.62.

Insider Activity at Major Drilling Group International

In other Major Drilling Group International news, insider Benjamin Luke Graham sold 10,000 shares of the company's stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of C$16.32, for a total value of C$163,200.00. 0.32% of the stock is owned by corporate 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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