MCAN Mortgage (TSE:MKP) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

MCAN Mortgage Co. (TSE:MKP) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$17.50 and traded as high as C$19.48. MCAN Mortgage shares last traded at C$19.18, with a volume of 61,290 shares.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group set a C$19.00 target price on shares of MCAN Mortgage and gave the stock a “buy” rating in a research report on Tuesday, October 15th.

MCAN Mortgage Price Performance

The stock has a 50-day simple moving average of C$18.84 and a 200 day simple moving average of C$17.51. The stock has a market capitalization of C$709.59 million, a P/E ratio of 8.72 and a beta of 0.85. The company has a debt-to-equity ratio of 373.58, a quick ratio of 1.97 and a current ratio of 1.97.

MCAN Mortgage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a $0.39 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of ∞. MCAN Mortgage’s payout ratio is 70.91%.

About MCAN Mortgage

MCAN Mortgage Corporation operates as a loan and mortgage investment corporation in Canada. The company engages in the real estate lending and investing activities, including residential mortgage, residential construction, non-residential construction, and commercial loans, as well as portfolio of real estate investments trusts and private investment activities.