MCAN Mortgage (TSE:MKP) Hits New 12-Month High – What’s Next?

Shares of MCAN Mortgage Co. (TSE:MKP) reached a new 52-week high during mid-day trading on Monday . The stock 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.

Analysts Set New Price Targets

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

MCAN Mortgage Stock Performance

The stock has a fifty day moving average price of C$18.50 and a 200 day moving average price of C$17.28. 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 firm has a market cap of C$738.58 million, a price-to-earnings ratio of 8.83 and a beta of 0.85.

MCAN Mortgage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 8.06%. The ex-dividend date is Friday, December 13th. MCAN Mortgage’s dividend 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.