Major Drilling Group International (TSE:MDI) Reaches New 12-Month High – Here’s Why

Major Drilling Group International Inc. (TSE:MDI) shares hit a new 52-week high during trading on Tuesday . The company traded as high as C$17.00 and last traded at C$16.04, with a volume of 605156 shares. The stock had previously closed at C$15.71.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MDI shares. Royal Bank Of Canada increased their target price on Major Drilling Group International from C$14.00 to C$17.00 in a report on Tuesday, December 16th. TD Securities increased their price objective on Major Drilling Group International from C$13.00 to C$16.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Major Drilling Group International currently has a consensus rating of “Buy” and a consensus target price of C$16.50.

Major Drilling Group International Stock Up 2.1%

The company has a market cap of C$1.32 billion, a P/E ratio of 84.42, a PEG ratio of 3.45 and a beta of 1.35. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.59 and a quick ratio of 1.92. The business’s 50 day moving average price is C$13.48 and its 200-day moving average price is C$11.59.

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. 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.