Major Drilling Group International (TSE:MDI) Releases Quarterly Earnings Results

Major Drilling Group International (TSE:MDI) posted its earnings results on Wednesday. The company reported C$0.10 EPS for the quarter, FiscalAI reports. Major Drilling Group International had a net margin of 1.68% and a return on equity of 2.63%. The business had revenue of C$233.69 million for the quarter.

Major Drilling Group International Trading Down 3.0%

Shares of Major Drilling Group International stock traded down C$0.51 on Wednesday, reaching C$16.23. 326,381 shares of the company’s stock were exchanged, compared to its average volume of 258,693. The firm’s 50-day moving average is C$16.73 and its two-hundred day moving average is C$15.53. Major Drilling Group International has a 52 week low of C$8.51 and a 52 week high of C$18.65. The company has a market capitalization of C$1.33 billion, a P/E ratio of 90.17, a price-to-earnings-growth ratio of 3.45 and a beta of 1.59. The company has a debt-to-equity ratio of 7.68, a quick ratio of 1.92 and a current ratio of 2.71.

Wall Street Analyst Weigh In

MDI has been the topic of a number of recent analyst reports. TD Securities raised their price target on Major Drilling Group International from C$16.00 to C$21.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Royal Bank Of Canada set a C$20.00 price target on shares of Major Drilling Group International and gave the stock an “outperform” rating in a research report on Friday, June 5th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$20.50.

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.