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

Major Drilling Group International Inc. (TSE:MDI)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$15.21 and traded as high as C$16.23. Major Drilling Group International shares last traded at C$15.97, with a volume of 260,850 shares.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MDI shares. TD Securities boosted their target price on Major Drilling Group International from C$16.00 to C$21.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Royal Bank Of Canada raised their price target on Major Drilling Group International from C$17.00 to C$20.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$20.50.

Major Drilling Group International Price Performance

The company has a debt-to-equity ratio of 7.68, a current ratio of 2.71 and a quick ratio of 1.92. The company has a market capitalization of C$1.31 billion, a PE ratio of 88.72, a price-to-earnings-growth ratio of 3.45 and a beta of 1.69. The stock’s 50 day simple moving average is C$16.40 and its 200-day simple moving average is C$15.21.

Major Drilling Group International Company Profile

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.