Major Drilling Group International (TSE:MDI) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

Major Drilling Group International Inc. (TSE:MDI) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$8.72 and traded as low as C$8.19. Major Drilling Group International shares last traded at C$8.21, with a volume of 109,248 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada dropped their price objective on Major Drilling Group International from C$15.00 to C$14.00 in a research note on Tuesday, December 10th.

Major Drilling Group International Trading Up 0.2 %

The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.92 and a current ratio of 3.35. The company has a market capitalization of C$671.91 million, a P/E ratio of 14.40, a PEG ratio of 3.45 and a beta of 1.65. The company’s fifty day simple moving average is C$8.52 and its 200-day simple moving average is C$8.72.

Insider Activity

In other news, Senior Officer Benjamin Luke Graham sold 12,400 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of C$8.80, for a total value of C$109,144.95. 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.