TD Forecasts Strong Price Appreciation for Major Drilling Group International (TSE:MDI) Stock

Major Drilling Group International (TSE:MDI) had its price objective upped by equities research analysts at TD from C$21.00 to C$22.00 in a research report issued on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD’s target price would suggest a potential upside of 22.84% from the company’s previous close.

A number of other brokerages have also recently issued reports on MDI. TD Securities boosted their target price on shares of Major Drilling Group International from C$16.00 to C$21.00 and gave the company a “buy” rating in a report 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 company an “outperform” rating in a report on Friday, June 5th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Major Drilling Group International has an average rating of “Buy” and a consensus target price of C$21.00.

Major Drilling Group International Stock Performance

MDI stock traded up C$0.32 during midday trading on Friday, reaching C$17.91. 261,621 shares of the company’s stock traded hands, compared to its average volume of 262,651. The company has a 50-day moving average price of C$16.78 and a two-hundred day moving average price of C$15.60. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.92 and a current ratio of 2.43. Major Drilling Group International has a 52 week low of C$8.51 and a 52 week high of C$18.65. The firm has a market capitalization of C$1.47 billion, a PE ratio of 99.50, a price-to-earnings-growth ratio of 3.45 and a beta of 1.59.

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

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.