Major Drilling Group International (TSE:MDI) Insider Marc Landry Buys 1,000 Shares

Major Drilling Group International Inc. (TSE:MDI) insider Marc Landry purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The shares were acquired at an average cost of C$14.89 per share, with a total value of C$14,890.00. Following the completion of the acquisition, the insider directly owned 10,400 shares in the company, valued at approximately C$154,856. This represents a 10.64% increase in their ownership of the stock.

Major Drilling Group International Stock Up 2.3%

Shares of TSE MDI opened at C$14.80 on Friday. Major Drilling Group International Inc. has a 12-month low of C$8.57 and a 12-month high of C$18.70. The firm’s 50-day simple moving average is C$16.50 and its 200 day simple moving average is C$15.81. The company has a quick ratio of 1.92, a current ratio of 2.43 and a debt-to-equity ratio of 6.32. The company has a market cap of C$1.22 billion, a price-to-earnings ratio of 56.92, a price-to-earnings-growth ratio of 3.45 and a beta of 1.59.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Royal Bank Of Canada set a C$20.00 price target on Major Drilling Group International and gave the stock an “outperform” rating in a research report on Friday, June 5th. TD Securities upped their price objective on Major Drilling Group International from C$16.00 to C$21.00 and gave the company a “buy” rating in a report on Friday, February 27th. Finally, TD increased their target price on Major Drilling Group International from C$21.00 to C$22.00 and gave the company a “buy” rating in a research note on Friday, June 12th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$21.00.

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.