Major Drilling Group International (TSE:MDI) Stock Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Major Drilling Group International Inc. (TSE:MDI) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$10.90 and traded as high as C$13.06. Major Drilling Group International shares last traded at C$12.90, with a volume of 139,471 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have commented on MDI. TD Securities boosted their price objective on Major Drilling Group International from C$13.00 to C$16.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Royal Bank Of Canada lifted their price target on Major Drilling Group International from C$14.00 to C$17.00 in a research note on Tuesday, December 16th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$16.50.

Major Drilling Group International Stock Down 0.5%

The firm’s fifty day simple moving average is C$12.75 and its two-hundred day simple moving average is C$10.90. The company has a current ratio of 3.59, a quick ratio of 1.92 and a debt-to-equity ratio of 1.17. The company has a market capitalization of C$1.06 billion, a price-to-earnings ratio of 67.89, a price-to-earnings-growth ratio of 3.45 and a beta of 1.00.

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.