The stock of MCAN Mortgage Corporation (TSE:MKP) is a huge mover today! About 25,861 shares traded hands or 29.20% up from the average. MCAN Mortgage Corporation (TSE:MKP) has risen 6.06% since March 29, 2016 and is uptrending. It has outperformed by 3.53% the S&P500.
The move comes after 8 months negative chart setup for the $305.46 million company. It was reported on Nov, 2 by Barchart.com. We have $11.86 PT which if reached, will make TSE:MKP worth $36.66M less.
More recent MCAN Mortgage Corporation (TSE:MKP) news were published by: Prnewswire.com which released: “MCAN Mortgage Corporation to acquire Xceed Mortgage Corporation” on March 26, 2013. Also Bloomberg.com published the news titled: “Mortgage Finance Firm MCAP Said to Seek C$275 Million in IPO” on June 03, 2016. Bloomberg.com‘s news article titled: “MCAP Withdraws IPO Plans, Citing Adverse Market Conditions” with publication date: June 29, 2016 was also an interesting one.
MCAN Mortgage Corporation is a Canada loan firm and mortgage investment corporation. The company has a market cap of $305.46 million. The Company’s primary objective is to generate income by investing its corporate funds in a portfolio of mortgages (including single family residential, residential construction, non-residential construction and commercial loans), as well as other types of financial investments, loans and real estate investments. It has a 8.08 P/E ratio. The Company’s primary subsidiary, Xceed Mortgage Corporation (Xceed), focuses on the origination and sale to MCAN and third party mortgage aggregators of residential first-charge mortgage products across Canada.
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