Major Drilling Group Int'l Upgraded by RBC Capital to “Outperform” (MDI)
Major Drilling Group Int'l (TSE:MDI) was upgraded by research analysts at RBC Capital from a “sector perform” rating to an “outperform” rating in a report released on Wednesday, American Banking News reports. The firm currently has a C$9.00 price target on the stock, up from their previous price target of C$8.00. RBC Capital’s price objective would indicate a potential upside of 21.62% from the stock’s previous close.
Major Drilling Group Int'l (TSE:MDI) traded up 0.54% during mid-day trading on Wednesday, hitting $7.44. The stock had a trading volume of 548,999 shares. Major Drilling Group Int'l has a 52-week low of $6.41 and a 52-week high of $12.20. The stock has a 50-day moving average of $7.23 and a 200-day moving average of $7.66. The company has a market cap of $589.0 million and a price-to-earnings ratio of 11.21.
Several other analysts have also recently commented on the stock. Analysts at TD Securities downgraded shares of Major Drilling Group Int'l (TSE:MDI) from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, August 21st. They now have a C$9.00 price target on the stock, down previously from C$10.00. Analysts at Haywood Securities cut their price target on shares of Major Drilling Group Int'l (TSE:MDI) from C$8.50 to C$5.00 in a research note to investors on Wednesday, July 3rd. They now have a “buy” rating on the stock.
Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of C$8.88.
Major Drilling Group International Inc is a drilling service company primarily serving the mining industry.
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