Royal Bank Of Canada Boosts Major Drilling Group International (TSE:MDI) Price Target to C$17.00

Major Drilling Group International (TSE:MDI) had its price objective raised by analysts at Royal Bank Of Canada from C$14.00 to C$17.00 in a report issued on Tuesday,BayStreet.CA reports. Royal Bank Of Canada’s target price points to a potential upside of 29.57% from the stock’s current price.

Separately, TD Securities raised their price target on shares of Major Drilling Group International from C$13.00 to C$16.00 and gave the company a “buy” rating in a research report on Friday, December 5th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$16.50.

Major Drilling Group International Stock Up 4.0%

TSE MDI traded up C$0.51 during mid-day trading on Tuesday, hitting C$13.12. The company’s stock had a trading volume of 84,039 shares, compared to its average volume of 148,478. The firm has a market capitalization of C$1.08 billion, a price-to-earnings ratio of 69.05, a PEG ratio of 3.45 and a beta of 1.00. The company’s 50 day simple moving average is C$12.58 and its 200 day simple moving average is C$10.53. Major Drilling Group International has a twelve month low of C$6.51 and a twelve month high of C$14.41. 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 other Major Drilling Group International news, insider John Ross Davies sold 20,000 shares of Major Drilling Group International stock in a transaction that occurred on 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 corporate 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.