Major Drilling Group International (TSE:MDI) Shares Cross Above 200 Day Moving Average – Should You Sell?

Major Drilling Group International Inc. (TSE:MDI)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$8.68 and traded as high as C$8.95. Major Drilling Group International shares last traded at C$8.80, with a volume of 106,896 shares.

Wall Street Analyst Weigh In

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

Major Drilling Group International Trading Down 0.3 %

The firm has a market cap of C$720.19 million, a P/E ratio of 15.44, a PEG ratio of 3.45 and a beta of 1.65. The company’s 50 day moving average is C$8.53 and its two-hundred day moving average is C$8.68. The company has a debt-to-equity ratio of 1.29, a current ratio of 3.35 and a quick ratio of 1.92.

Insiders Place Their Bets

In other news, Senior Officer Benjamin Luke Graham sold 12,400 shares of Major Drilling Group International stock in a transaction dated Monday, December 9th. The shares were 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.