MCAN Mortgage (TSE:MKP) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

MCAN Mortgage Co. (TSE:MKP) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$17.19 and traded as high as C$19.62. MCAN Mortgage shares last traded at C$19.35, with a volume of 47,178 shares.

Analyst Ratings Changes

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

MCAN Mortgage Trading Up 0.5 %

The company has a market cap of C$747.74 million, a price-to-earnings ratio of 8.88 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. The firm has a fifty day moving average price of C$18.42 and a 200 day moving average price of C$17.21.

MCAN Mortgage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 7.96%. The ex-dividend date of this dividend is Friday, December 13th. MCAN Mortgage’s payout ratio is presently 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.