McCoy Global (TSE:MCB) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• McCoy Global's stock price has surpassed its 200-day moving average, with recent trading at C$3.41, indicating potential upward momentum.
• Analysts from Beacon Securities have set a target price of C$5.50 for McCoy Global, along with a "buy" rating, reflecting positive market sentiment.
• The company recently increased its quarterly dividend to $0.025 per share, raising the annualized dividend yield to 2.9% from the previous $0.02 and indicating financial stability.

McCoy Global Inc. (TSE:MCB - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$3.37 and traded as high as C$3.44. McCoy Global shares last traded at C$3.41, with a volume of 50,949 shares traded.

Wall Street Analyst Weigh In

Separately, Beacon Securities set a C$5.50 price target on shares of McCoy Global and gave the stock a "buy" rating in a research note on Monday, August 18th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average price target of C$5.50.

McCoy Global Stock Up 0.3%

The company has a debt-to-equity ratio of 6.05, a current ratio of 3.07 and a quick ratio of 1.26. The business's 50 day simple moving average is C$3.79 and its 200 day simple moving average is C$3.39. The company has a market capitalization of C$91.37 million, a PE ratio of 11.90 and a beta of 0.58.

McCoy Global Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 15th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 3.0%. This is a boost from McCoy Global's previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Monday, June 30th. McCoy Global's payout ratio is presently 28.41%.

McCoy Global Company Profile

McCoy Global Inc is a provider of equipment and technologies to support tubular running operations, enhance wellbore integrity and assist with collecting critical data for the global energy industry. It is engaged in the design, production and distribution of capital equipment to support tubular running operations, enhance wellbore integrity and to support capital equipment sales through aftermarket products and services such as technical support, consumables and replacement parts.