Major Drilling Group International (TSE:MDI) Sets New 1-Year High – Should You Buy?

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$14.44 and last traded at C$14.40, with a volume of 163637 shares trading hands. The stock had previously closed at C$13.91.

Analyst Ratings Changes

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

Major Drilling Group International Price Performance

The stock has a market cap of C$1.16 billion, a price-to-earnings ratio of 74.58, a price-to-earnings-growth ratio of 3.45 and a beta of 1.35. The company has a quick ratio of 1.92, a current ratio of 3.59 and a debt-to-equity ratio of 1.17. The company’s 50-day moving average is C$12.88 and its 200-day moving average is C$11.08.

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.