Royal Bank Of Canada Forecasts Strong Price Appreciation for Major Drilling Group International (TSE:MDI) Stock

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 note issued to investors on Tuesday,BayStreet.CA reports. Royal Bank Of Canada’s price objective would suggest a potential upside of 28.30% from the stock’s previous close.

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

Major Drilling Group International Stock Up 2.1%

MDI stock opened at C$13.25 on Tuesday. The firm has a 50-day simple moving average of C$12.63 and a 200-day simple moving average of C$10.59. Major Drilling Group International has a 52 week low of C$6.51 and a 52 week high of C$14.41. The stock has a market capitalization of C$1.09 billion, a P/E ratio of 69.74, a P/E/G ratio of 3.45 and a beta of 1.00. The company has a quick ratio of 1.92, a current ratio of 3.59 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 stock was sold at an average price of C$11.79, for a total value of C$235,800.00. Insiders own 0.32% of the company’s stock.

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.