Mullen Group Ltd. (MTL:CA) is one of the better performing stocks in energy sector of the S&P/TSX Composite Index on September 22, rising 1.26% to $16.1 at the lunch break after closing the day prior at $15.9. So far in the day, shares of MTL:CA traded as high as $16.19 and as low as $15.82. Today’s advance comes with about 29,714 shares changing hands, compared to an average 30-day volume of 114,406 for Mullen Group Ltd.. The price is currently below the 30-day volume weighted average price of $16.01 for MTL:CA.
The share appreciation gives the company a market capitalization of $1.65 billion based upon 103.65 million shares outstanding. It also means that Mullen Group Ltd has a price-to-book ratio of 1.71:1 and a price-to-earnings ratio of 33.1:1.
In the past 52 weeks, shares of MTL:CA have traded as low as $13.02 and as high as $19.5. Technical traders will take note that at $16.1, shares of MTL:CA are trading above their 200-day MA at $14.46 and above their 50-day MA at $15.78. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is Mullen Group Ltd?
Mullen Group Ltd owns asset based oilfield services and trucking businesses. The Company's oilfield services division provides specialized transportation equipment and trucking division provides long haul and local transportation services. The company’s 6200 employees are led by CEO Murray K. Mullen from the corporate headquarters at Chimney Rock Centre.
What is the S&P/TSX Composite Index?
Developed and managed by S&P Dow Jones Indices and launched in January 1977, the S&P/TSX Composite is the headline index for the Canadian equity market. Generally, when investors refer to movement in the Canadian markets, they are referring to the S&P/TSX Composite, as it is the broadest index in the S&P/TSX franchise. The index includes more than 230 of the biggest companies traded on the Toronto Stock Exchange, with financials making up the most heavily weighted sector in the index, followed by energy and materials. The Toronto Stock Exchange serves as the distributor of both real-time and historical data for this index.
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