Major Drilling Group International (TSE:MDI) Share Price Passes Above 200-Day Moving Average of $8.23

Major Drilling Group International Inc. (TSE:MDI)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$8.23 and traded as high as C$9.02. Major Drilling Group International shares last traded at C$9.00, with a volume of 356,800 shares traded.

Analyst Upgrades and Downgrades

Separately, TD Securities cut their target price on shares of Major Drilling Group International from C$14.50 to C$14.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th.

Major Drilling Group International Price Performance

The company has a quick ratio of 1.92, a current ratio of 3.75 and a debt-to-equity ratio of 1.05. The stock has a market cap of C$736.11 million, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 3.45 and a beta of 1.62. The business’s 50-day simple moving average is C$8.27 and its two-hundred day simple moving average is C$8.23.

Major Drilling Group International (TSE:MDI) last announced its quarterly earnings results on Thursday, February 29th. The company reported C($0.03) earnings per share (EPS) for the quarter. Major Drilling Group International had a return on equity of 14.08% and a net margin of 8.84%. The firm had revenue of C$132.82 million during the quarter. Sell-side analysts expect that Major Drilling Group International Inc. will post 0.7846013 EPS for the current year.

About Major Drilling Group International

Major Drilling Group International Inc provides contract drilling services for mining and mineral exploration companies. The company offers a suite of drilling services, including surface and underground coring, directional, reverse circulation, sonic, geotechnical, environmental, water-well, coal-bed methane, shallow gas, underground percussive, longhole drilling, surface drill and blast, and related mining services.