MCAN Mortgage (TSE:MKP) Share Price Crosses Above 200-Day Moving Average – Here’s Why

MCAN Mortgage Co. (TSE:MKP)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$17.57 and traded as high as C$18.04. MCAN Mortgage shares last traded at C$17.85, with a volume of 45,561 shares.

Analysts Set New Price Targets

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

MCAN Mortgage Trading Down 0.5 %

The firm has a market cap of C$680.98 million, a price-to-earnings ratio of 8.11 and a beta of 0.85. The company’s 50 day simple moving average is C$18.84 and its 200 day simple moving average is C$17.57. The company has a debt-to-equity ratio of 373.58, a current ratio of 1.97 and a quick ratio of 1.97.

MCAN Mortgage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 8.74%. The ex-dividend date is Friday, December 13th. MCAN Mortgage’s dividend payout ratio (DPR) is 70.91%.

MCAN Mortgage Company Profile

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.