MCAN Mortgage (TSE:MKP) Hits New 12-Month High – Time to Buy?

Shares of MCAN Mortgage Co. (TSE:MKP) reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$19.80 and last traded at C$19.80, with a volume of 15311 shares changing hands. The stock had previously closed at C$19.60.

Analyst Upgrades and Downgrades

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

MCAN Mortgage Stock Performance

The stock’s 50-day simple moving average is C$18.46 and its 200 day simple moving average is C$17.26. The company has a market capitalization of C$743.93 million, a PE ratio of 8.86 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 8.00%. The ex-dividend date of this dividend is Friday, December 13th. MCAN Mortgage’s dividend payout ratio (DPR) is presently 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.