Major Drilling Group Int’l (TSE:MDI) Shares Pass Above 200-Day Moving Average of $4.55

Major Drilling Group Int’l Inc. (TSE:MDI) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.55 and traded as high as $6.52. Major Drilling Group Int’l shares last traded at $6.45, with a volume of 29,732 shares.

A number of equities analysts recently weighed in on MDI shares. 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 shares of Major Drilling Group Int’l from a “hold” rating to a “buy” rating and upped their target price for the stock from C$5.50 to C$6.50 in a research note on Tuesday, September 10th.

The stock has a market capitalization of $522.75 million and a price-to-earnings ratio of -53.75. The company has a current ratio of 3.24, a quick ratio of 1.78 and a debt-to-equity ratio of 5.89. The stock’s 50 day moving average is C$5.45 and its two-hundred day moving average is C$4.55.

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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