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

MCAN Mortgage Co. (TSE:MKP) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$21.93 and traded as high as C$23.82. MCAN Mortgage shares last traded at C$23.65, with a volume of 46,828 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets upped their target price on shares of MCAN Mortgage from C$20.00 to C$21.00 and gave the company a “hold” rating in a research note on Monday, November 10th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, MCAN Mortgage has an average rating of “Hold” and a consensus target price of C$21.00.

MCAN Mortgage Price Performance

The business’s fifty day simple moving average is C$22.66 and its 200 day simple moving average is C$21.95. The stock has a market cap of C$960.03 million, a price-to-earnings ratio of 14.47 and a beta of 0.46.

About MCAN Mortgage

MCAN Financial Group is a mortgage investment company whose objective is to generate a reliable stream of income by investing its funds in a portfolio of mortgages (including single family residential, residential construction, non-residential construction and commercial loans), as well as other types of loans and investments, real estate and securitization investments. The company derives most of its revenues from mortgage income and equity income.