MCAN Mortgage (TSE:MKP) Shares Cross Above 200-Day Moving Average – Should You Sell?

MCAN Mortgage Co. (TSE:MKP)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$21.43 and traded as high as C$22.71. MCAN Mortgage shares last traded at C$22.64, with a volume of 44,388 shares changing hands.

Analyst Ratings Changes

Separately, BMO Capital Markets lifted their target price on MCAN Mortgage from C$20.00 to C$21.00 and gave the stock a “hold” rating in a research report on Monday, November 10th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, MCAN Mortgage currently has an average rating of “Hold” and a consensus target price of C$21.00.

MCAN Mortgage Trading Up 0.3%

The company’s 50-day moving average price is C$22.20 and its two-hundred day moving average price is C$21.43. The company has a market cap of C$910.56 million, a P/E ratio of 13.72 and a beta of 0.49.

MCAN Mortgage (TSE:MKP) last released its quarterly earnings results on Thursday, November 6th. The company reported C$0.52 earnings per share (EPS) for the quarter. MCAN Mortgage had a net margin of 52.77% and a return on equity of 15.63%. The business had revenue of C$37.85 million for the quarter. Equities analysts forecast that MCAN Mortgage Co. will post 2.5108359 earnings per share for the current year.

About MCAN Mortgage

MCAN Financial Group is a mortgage investment company whose objective is to generate a reliable stream of income by investing its funds in a portfolio of mortgages (including single family residential, residential construction, non-residential construction and commercial loans), as well as other types of loans and investments, real estate and securitization investments. The company derives most of its revenues from mortgage income and equity income.