Major Drilling Group Int’l (TSE:MDI) Stock Crosses Above 200-Day Moving Average of $5.07

Major Drilling Group Int’l Inc. (TSE:MDI)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.07 and traded as high as $5.80. Major Drilling Group Int’l shares last traded at $5.72, with a volume of 29,712 shares changing hands.

Several research firms have commented on MDI. Beacon Securities raised shares of Major Drilling Group Int’l from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. TD Securities raised their target price on shares of Major Drilling Group Int’l from C$6.50 to C$8.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th.

The stock has a market cap of $465.26 million and a price-to-earnings ratio of -48.25. The company has a debt-to-equity ratio of 5.89, a quick ratio of 1.78 and a current ratio of 3.24. The company’s 50 day simple moving average is C$5.71 and its 200 day simple moving average is C$5.07.

Major Drilling Group Int’l (TSE:MDI) last released its earnings results on Monday, September 9th. The company reported C$0.08 EPS for the quarter. The company had revenue of C$117.46 million for the quarter. Sell-side analysts predict that Major Drilling Group Int’l Inc. will post 0.23 EPS for the current year.

Major Drilling Group Int’l Company Profile (TSE:MDI)

Major Drilling Group International Inc primarily provides contract drilling services for mining and mineral exploration companies. It 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 various mine services.

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