Major Drilling Group International (TSE:MDI) Given New C$16.00 Price Target at TD Securities

Major Drilling Group International (TSE:MDI) had its target price increased by equities research analysts at TD Securities from C$13.00 to C$16.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ target price would suggest a potential upside of 15.11% from the company’s previous close.

Major Drilling Group International Stock Up 2.3%

Shares of TSE:MDI traded up C$0.31 during mid-day trading on Friday, hitting C$13.90. 128,755 shares of the company traded hands, compared to its average volume of 147,638. The stock has a 50-day moving average price of C$12.34 and a two-hundred day moving average price of C$10.25. Major Drilling Group International has a 12-month low of C$6.51 and a 12-month high of C$14.41. The stock has a market cap of C$1.14 billion, a P/E ratio of 55.60, a P/E/G ratio of 3.45 and a beta of 1.00. The company has a current ratio of 3.59, a quick ratio of 1.92 and a debt-to-equity ratio of 1.17.

Insider Activity at Major Drilling Group International

In related news, insider Denis Joseph Larocque purchased 4,000 shares of the stock in a transaction dated Thursday, September 11th. The stock was purchased at an average price of C$9.79 per share, with a total value of C$39,160.00. Following the transaction, the insider directly owned 88,275 shares in the company, valued at C$864,212.25. This trade represents a 4.75% increase in their ownership of the stock. Also, insider John Ross Davies sold 20,000 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of C$11.79, for a total transaction of C$235,800.00. 0.32% of the stock is currently owned by company insiders.

About Major Drilling Group International

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.