Major Drilling Group International (TSE:MDI) Hits New 12-Month High After Analyst Upgrade

Major Drilling Group International Inc. (TSE:MDI) reached a new 52-week high on Wednesday after Royal Bank Of Canada raised their price target on the stock from C$17.00 to C$20.00. Royal Bank Of Canada currently has an outperform rating on the stock. Major Drilling Group International traded as high as C$17.60 and last traded at C$17.50, with a volume of 402582 shares trading hands. The stock had previously closed at C$17.14.

Separately, TD Securities lifted their target price on shares of Major Drilling Group International from C$13.00 to C$16.00 and gave the company a “buy” rating in a report on Friday, December 5th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Major Drilling Group International has a consensus rating of “Buy” and an average target price of C$18.00.

Insider Buying and Selling at Major Drilling Group International

In related news, insider Benjamin Luke Graham sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of C$16.32, for a total transaction of C$163,200.00. 0.32% of the stock is currently owned by insiders.

Major Drilling Group International Stock Up 2.4%

The firm’s 50 day moving average price is C$15.01 and its two-hundred day moving average price is C$12.73. The firm has a market capitalization of C$1.50 billion, a PE ratio of 96.05, a P/E/G ratio of 3.45 and a beta of 1.51. The company has a quick ratio of 1.92, a current ratio of 3.59 and a debt-to-equity ratio of 1.17.

Major Drilling Group International Company Profile

Major Drilling Group International Inc is engaged in the business of contract drilling, and it provides services to companies that are involved in mining and mineral exploration. It offers surface and underground coring, directional, reverse circulation, sonic, geotechnical, environmental, water-well, coal-bed methane, shallow gas, and underground percussive/long-hole drilling services, as well as various drilling-related mine services. Its geographical segments are Canada – the United States; South and Central America; and Asia and Africa, of which most of its revenue comes from Canada – the United States.