MCAN Mortgage (TSE:MKP) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

MCAN Mortgage Co. (TSE:MKP)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$22.34 and traded as high as C$22.51. MCAN Mortgage shares last traded at C$22.32, with a volume of 31,313 shares changing hands.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group upped their price target on MCAN Mortgage from C$24.00 to C$26.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, MCAN Mortgage has an average rating of “Moderate Buy” and a consensus target price of C$23.50.

MCAN Mortgage Stock Performance

The stock has a market capitalization of C$905.83 million, a PE ratio of 11.81 and a beta of 0.63. The company has a quick ratio of 1.97, a current ratio of 11.12 and a debt-to-equity ratio of 535.52. The stock has a fifty day moving average of C$23.18 and a 200-day moving average of C$22.34.

MCAN Mortgage (TSE:MKP) last issued its quarterly earnings results on Monday, February 23rd. The company reported C$0.43 earnings per share for the quarter. The company had revenue of C$37.60 million for the quarter. MCAN Mortgage had a return on equity of 11.93% and a net margin of 27.90%. Equities analysts anticipate that MCAN Mortgage Co. will post 2.5108359 earnings per share for the current fiscal 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.