Major Drilling Group International (TSE:MDI) Shares Cross Above 200 Day Moving Average of $8.32

Shares of Major Drilling Group International Inc. (TSE:MDI) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$8.32 and traded as high as C$9.77. Major Drilling Group International shares last traded at C$9.68, with a volume of 117,905 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, TD Securities decreased their target price on Major Drilling Group International from C$14.50 to C$14.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th.

Major Drilling Group International Stock Performance

The company has a quick ratio of 1.92, a current ratio of 3.75 and a debt-to-equity ratio of 1.05. The stock has a 50 day simple moving average of C$8.59 and a 200 day simple moving average of C$8.34. The company has a market capitalization of C$808.09 million, a price-to-earnings ratio of 12.83, a P/E/G ratio of 3.45 and a beta of 1.66.

Major Drilling Group International (TSE:MDI) last issued its earnings results on Thursday, February 29th. The company reported C($0.03) EPS for the quarter. The company had revenue of C$132.82 million during the quarter. Major Drilling Group International had a net margin of 8.84% and a return on equity of 14.08%. As a group, analysts anticipate that Major Drilling Group International Inc. will post 0.7854114 earnings per share for the current fiscal 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.