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

Major Drilling Group International Inc. (TSE:MDI) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$15.79 and traded as low as C$14.98. Major Drilling Group International shares last traded at C$15.19, with a volume of 192,029 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. TD increased their price objective on shares of Major Drilling Group International from C$21.00 to C$22.00 and gave the stock a “buy” rating in a research report on Friday, June 12th. Royal Bank Of Canada set a C$20.00 target price on Major Drilling Group International and gave the company an “outperform” rating in a research report on Friday, June 5th. Finally, TD Securities upped their price target on Major Drilling Group International from C$16.00 to C$21.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of C$21.00.

Major Drilling Group International Price Performance

The business has a 50-day moving average price of C$16.70 and a two-hundred day moving average price of C$15.79. The company has a quick ratio of 1.92, a current ratio of 2.43 and a debt-to-equity ratio of 6.32. The company has a market capitalization of C$1.25 billion, a price-to-earnings ratio of 58.42, a price-to-earnings-growth ratio of 3.45 and a beta of 1.59.

Major Drilling Group International (TSE:MDI) last posted its quarterly earnings results on Wednesday, June 10th. The company reported C$0.10 earnings per share (EPS) for the quarter. The business had revenue of C$233.69 million during the quarter. Major Drilling Group International had a net margin of 2.40% and a return on equity of 3.91%. As a group, research analysts anticipate that Major Drilling Group International Inc. will post 0.5757162 EPS for the current year.

Insider Buying and Selling at Major Drilling Group International

In other Major Drilling Group International news, Director Jo Mark Zurel sold 6,000 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of C$17.84, for a total value of C$107,040.00. Following the transaction, the director directly owned 5,600 shares of the company’s stock, valued at approximately C$99,904. This trade represents a 51.72% decrease in their ownership of the stock. Company 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. 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.