MCAN Mortgage (TSE:MKP) Reaches New 52-Week High – Should You Buy?

MCAN Mortgage Co. (TSE:MKP)’s share price reached a new 52-week high during trading on Monday . The company traded as high as C$19.80 and last traded at C$19.80, with a volume of 15311 shares. The stock had previously closed at C$19.60.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group set a C$19.00 target price on MCAN Mortgage and gave the company a “buy” rating in a research note on Tuesday, October 15th.

MCAN Mortgage Stock Performance

The firm’s 50 day moving average price is C$18.50 and its 200-day moving average price is C$17.28. The firm has a market cap of C$738.58 million, a price-to-earnings ratio of 8.83 and a beta of 0.85. The company has a debt-to-equity ratio of 373.58, a current ratio of 1.97 and a quick ratio of 1.97.

MCAN Mortgage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 8.06%. MCAN Mortgage’s payout ratio is 70.91%.

MCAN Mortgage Company Profile

MCAN Mortgage Corporation operates as a loan and mortgage investment corporation in Canada. The company engages in the real estate lending and investing activities, including residential mortgage, residential construction, non-residential construction, and commercial loans, as well as portfolio of real estate investments trusts and private investment activities.