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 Monday after TD raised their price target on the stock from C$21.00 to C$22.00. TD currently has a buy rating on the stock. Major Drilling Group International traded as high as C$18.70 and last traded at C$18.56, with a volume of 26778 shares trading hands. The stock had previously closed at C$17.96.

A number of other analysts also recently commented on MDI. TD Securities upped their target price on Major Drilling Group International from C$16.00 to C$21.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Royal Bank Of Canada set a C$20.00 price objective on Major Drilling Group International and gave the stock an “outperform” rating in a research report on Friday, June 5th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$21.00.

Insider Buying and Selling at Major Drilling Group International

In other Major Drilling Group International news, Director Jo Mark Zurel sold 6,000 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of C$17.84, for a total value of C$107,040.00. Following the completion of the transaction, the director owned 5,600 shares in the company, valued at approximately C$99,904. This represents a 51.72% decrease in their ownership of the stock. Company insiders own 0.32% of the company’s stock.

Major Drilling Group International Stock Up 2.7%

The company has a market cap of C$1.52 billion, a PE ratio of 70.96, a P/E/G ratio of 3.45 and a beta of 1.59. The business has a 50-day simple moving average of C$16.81 and a 200-day simple moving average of C$15.64. The company has a quick ratio of 1.92, a current ratio of 2.43 and a debt-to-equity ratio of 6.32.

Major Drilling Group International (TSE:MDI) last posted its quarterly earnings data on Wednesday, June 10th. The company reported C$0.10 EPS for the quarter. The business had revenue of C$233.69 million during the quarter. Major Drilling Group International had a return on equity of 3.91% and a net margin of 2.40%. Equities research analysts anticipate that Major Drilling Group International Inc. will post 0.5757162 EPS for the current year.

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.