Major Drilling Group International (TSE:MDI) Sets New 52-Week High – Time to Buy?

Shares of Major Drilling Group International Inc. (TSE:MDI) reached a new 52-week high during trading on Thursday . The stock traded as high as C$17.11 and last traded at C$17.00, with a volume of 304280 shares traded. The stock had previously closed at C$16.74.

Wall Street Analyst Weigh In

Several research firms have issued reports on MDI. Royal Bank Of Canada boosted their target price on shares of Major Drilling Group International from C$14.00 to C$17.00 in a research report on Tuesday, December 16th. TD Securities increased their target price 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 investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of C$16.50.

Major Drilling Group International Trading Down 1.0%

The firm has a market cap of C$1.38 billion, a price-to-earnings ratio of 88.58, a price-to-earnings-growth ratio of 3.45 and a beta of 1.51. The business has a 50 day moving average of C$14.64 and a 200 day moving average of C$12.48. 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 Buying and Selling

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. Insiders own 0.32% of the company’s stock.

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.