TD Issues Positive Forecast for Major Drilling Group International (TSE:MDI) Stock Price

Major Drilling Group International (TSE:MDI) had its price objective increased by TD from C$21.00 to C$22.00 in a research note published on Friday,BayStreet.CA reports. TD currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. TD Securities lifted their target price on shares of Major Drilling Group International from C$16.00 to C$21.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Royal Bank Of Canada set a C$20.00 target price on shares of Major Drilling Group International and gave the stock an “outperform” rating in a research note on Friday, June 5th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$21.00.

Major Drilling Group International Stock Performance

Shares of Major Drilling Group International stock opened at C$17.96 on Friday. The firm has a market capitalization of C$1.48 billion, a P/E ratio of 99.78, a P/E/G ratio of 3.45 and a beta of 1.59. The company’s 50 day moving average price is C$16.81 and its two-hundred day moving average price is C$15.62. The company has a debt-to-equity ratio of 6.32, a current ratio of 2.43 and a quick ratio of 1.92. Major Drilling Group International has a fifty-two week low of C$8.51 and a fifty-two week high of C$18.65.

Major Drilling Group International (TSE:MDI) last issued its quarterly earnings results on Wednesday, June 10th. The company reported C$0.10 EPS for the quarter. The company had revenue of C$233.69 million for the quarter. Major Drilling Group International had a net margin of 2.40% and a return on equity of 3.91%. On average, equities analysts forecast that Major Drilling Group International will post 0.5757162 earnings per share for the current fiscal year.

Insider Activity at Major Drilling Group International

In other news, Director Jo Mark Zurel sold 6,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of C$17.84, for a total transaction of C$107,040.00. Following the completion of the sale, the director directly owned 5,600 shares of the company’s stock, valued at C$99,904. The trade was a 51.72% decrease in their ownership of the stock. 0.32% of the stock is currently owned by 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. 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.