Major Drilling Group International (TSE:MDI) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Shares of Major Drilling Group International Inc. (TSE:MDI) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$8.61 and traded as high as C$9.32. Major Drilling Group International shares last traded at C$9.13, with a volume of 38,600 shares trading hands.

Analysts Set New Price Targets

Separately, Royal Bank of Canada decreased their target price on Major Drilling Group International from C$15.00 to C$14.00 in a research note on Tuesday, December 10th.

Major Drilling Group International Stock Performance

The company has a quick ratio of 1.92, a current ratio of 3.59 and a debt-to-equity ratio of 1.17. The stock has a 50 day simple moving average of C$8.59 and a 200 day simple moving average of C$8.61. The company has a market capitalization of C$740.70 million, a price-to-earnings ratio of 17.78, a P/E/G ratio of 3.45 and a beta of 1.65.

Insider Activity

In related news, Senior Officer Benjamin Luke Graham sold 12,400 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of C$8.80, for a total transaction of C$109,144.95. Corporate 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.