Major Drilling Group Int’l (TSE:MDI) Stock Passes Above 200-Day Moving Average of $4.66

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Major Drilling Group Int’l Inc. (TSE:MDI) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.66 and traded as high as $7.25. Major Drilling Group Int’l shares last traded at $7.03, with a volume of 192,912 shares traded.

MDI has been the topic of several research analyst reports. Laurentian Bank of Canada raised their price objective on Major Drilling Group Int’l from C$6.75 to C$8.00 in a research note on Wednesday, August 26th. TD Securities raised their target price on Major Drilling Group Int’l from C$6.00 to C$8.00 and gave the company a “buy” rating in a research note on Thursday, September 10th. Royal Bank of Canada raised their target price on Major Drilling Group Int’l from C$6.00 to C$8.00 and gave the company an “outperform” rating in a research note on Thursday, September 10th. Finally, Laurentian raised their target price on Major Drilling Group Int’l from C$6.75 to C$8.00 in a research note on Wednesday, August 26th.

The company has a quick ratio of 1.94, a current ratio of 3.63 and a debt-to-equity ratio of 11.82. The company has a market capitalization of $564.49 million and a P/E ratio of -7.53. The business has a 50 day simple moving average of C$6.63 and a 200-day simple moving average of C$4.67.

About Major Drilling Group Int’l (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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