Major Drilling Group International (TSE:MDI) Shares Pass Above 200 Day Moving Average of $8.46

Major Drilling Group International Inc. (TSE:MDI) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$8.46 and traded as high as C$9.70. Major Drilling Group International shares last traded at C$9.50, with a volume of 61,226 shares trading hands.

Wall Street Analyst Weigh In

Separately, TD Securities lowered their price objective on shares of Major Drilling Group International from C$14.50 to C$14.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th.

Major Drilling Group International Stock Down 0.3 %

The firm’s 50-day simple moving average is C$8.91 and its 200-day simple moving average is C$8.46. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.92 and a current ratio of 3.75. The company has a market capitalization of C$777.01 million, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 3.45 and a beta of 1.66.

Major Drilling Group International (TSE:MDI) last released its earnings results on Thursday, February 29th. The company reported C($0.03) earnings per share for the quarter. The firm had revenue of C$132.82 million for the quarter. Major Drilling Group International had a return on equity of 14.08% and a net margin of 8.84%. Sell-side analysts forecast that Major Drilling Group International Inc. will post 0.7825371 earnings per share for the current year.

About Major Drilling Group International

Major Drilling Group International Inc provides contract drilling services for mining and mineral exploration companies. The company offers a suite of drilling services, including surface and underground coring, directional, reverse circulation, sonic, geotechnical, environmental, water-well, coal-bed methane, shallow gas, underground percussive, longhole drilling, surface drill and blast, and related mining services.