What’s Propelling Magellan Aerospace Corp to Decline So Much?

 What's Propelling Magellan Aerospace Corp to Decline So Much?

The stock of Magellan Aerospace Corp (TSE:MAL) is a huge mover today! About 28,916 shares traded hands. Magellan Aerospace Corp (TSE:MAL) has risen 12.96% since April 8, 2016 and is uptrending. It has outperformed by 7.98% the S&P500.
The move comes after 5 months negative chart setup for the $996.00M company. It was reported on Nov, 14 by Barchart.com. We have $16.26 PT which if reached, will make TSE:MAL worth $49.80M less.

Magellan Aerospace Corp (TSE:MAL) Ratings Coverage

Out of 3 analysts covering Magellan Aerospace Corporation (TSE:MAL), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Magellan Aerospace Corporation has been the topic of 6 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The stock of Magellan Aerospace Corp (TSE:MAL) has “Buy” rating given on Monday, October 24 by Canaccord Genuity. The firm has “Buy” rating given on Wednesday, August 12 by TD Securities.

More recent Magellan Aerospace Corp (TSE:MAL) news were published by: Reuters.com which released: “BRIEF-Magellan Aerospace Corp says board has approved quarterly dividend p…” on November 14, 2016. Also Seekingalpha.com published the news titled: “Magellan Aerospace: This Under-Appreciated Aerospace Company Will Rise 20 …” on April 24, 2016. Reuters.com‘s news article titled: “BRIEF-Magellan Aerospace secures multi-year boeing 777x & 787 Dreamliner c…” with publication date: October 13, 2016 was also an interesting one.

Magellan Aerospace Corporation is a Canada supplier of components to the aerospace industry and in certain applications for power generation projects. The company has a market cap of $996.00 million. The Firm engineers and makes aeroengine and aerostructure components for aerospace markets, including products for defense and space markets, and complementary specialty products. It has a 11.1 P/E ratio. The Company’s divisions include Aerospace and Power Generation Project.

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