Major Drilling Group Int'l Inc. (MDI) Downgraded by TD Securities
Major Drilling Group Int'l Inc. (TSE:MDI) was downgraded by investment analysts at TD Securities from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday. They currently have a C$9.00 price target on the stock, down from their previous price target of C$9.50. TD Securities’ price objective would indicate a potential upside of 18.42% from the company’s previous close.
A number of other equities analysts have also weighed in on the company. Paradigm Capital upgraded Major Drilling Group Int'l from a “hold” rating to a “buy” rating and upped their target price for the stock from C$8.50 to C$9.75 in a research note on Wednesday, June 7th. Royal Bank Of Canada restated a “sector perform” rating and issued a C$8.00 target price (up from C$7.00) on shares of Major Drilling Group Int'l in a research note on Tuesday, June 6th.
Major Drilling Group Int'l (TSE MDI) traded down 6.84% during mid-day trading on Friday, reaching $7.08. The company had a trading volume of 167,521 shares. Major Drilling Group Int'l has a 12-month low of $5.72 and a 12-month high of $8.69. The stock’s market capitalization is $567.38 million. The stock has a 50 day moving average price of $8.07 and a 200-day moving average price of $7.85.
Major Drilling Group Int'l (TSE:MDI) last announced its earnings results on Thursday, June 8th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $81.47 million for the quarter, compared to analyst estimates of $94.30 million. Major Drilling Group Int'l had a negative return on equity of 8.09% and a negative net margin of 10.10%. Equities analysts anticipate that Major Drilling Group Int'l will post ($0.17) EPS for the current fiscal year.
About Major Drilling Group Int'l
Major Drilling Group International Inc is a drilling services company. The Company is engaged in the business of contract drilling for companies primarily involved in mining and mineral exploration. The Company operates through three geographical segments, which include Canada – U.S., South and Central America, and Asia and Africa.
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