Major Drilling Group International (TSE:MDI) Stock Price Expected to Rise, TD Securities Analyst Says
by Danessa Lincoln · The Markets DailyMajor Drilling Group International (TSE:MDI – Get Free Report) had its target price upped by equities researchers at TD Securities from C$16.00 to C$21.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ price objective would suggest a potential upside of 15.26% from the stock’s previous close.
Separately, Royal Bank Of Canada lifted their price objective on Major Drilling Group International from C$17.00 to C$20.00 and gave the company an “outperform” rating in a report on Tuesday. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Major Drilling Group International presently has a consensus rating of “Buy” and an average target price of C$20.50.
Check Out Our Latest Stock Report on MDI
Major Drilling Group International Stock Performance
Shares of MDI traded down C$0.03 during mid-day trading on Friday, hitting C$18.22. 387,621 shares of the company’s stock were exchanged, compared to its average volume of 286,679. The company has a quick ratio of 1.92, a current ratio of 3.59 and a debt-to-equity ratio of 1.17. Major Drilling Group International has a 52 week low of C$6.51 and a 52 week high of C$18.35. The stock’s 50-day simple moving average is C$15.01 and its 200-day simple moving average is C$12.73. The firm has a market cap of C$1.50 billion, a price-to-earnings ratio of 95.89, a price-to-earnings-growth ratio of 3.45 and a beta of 1.51.
Insiders Place Their Bets
In other Major Drilling Group International news, insider Benjamin Luke Graham sold 10,000 shares of Major Drilling Group International stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of C$16.32, for a total value of C$163,200.00. 0.32% of the stock is owned by company insiders.
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.