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

Shares of MCAN Mortgage Co. (TSE:MKP) passed 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 trading hands.

Analysts Set New Price Targets

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

MCAN Mortgage Trading Up 0.5 %

The business has a 50 day moving average price of C$18.42 and a 200 day moving average price of C$17.21. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 373.58. The company has a market capitalization of C$747.74 million, a P/E ratio of 8.88 and a beta of 0.85.

MCAN Mortgage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a dividend of $0.39 per share. 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 7.96%. MCAN Mortgage’s payout ratio 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.