Insider Buying: Major Drilling Group International (TSE:MDI) Insider Buys C$14,890.00 in Stock

Major Drilling Group International Inc. (TSE:MDI) insider Marc Landry acquired 1,000 shares of the business’s stock in a transaction on Wednesday, June 24th. The stock was acquired at an average cost of C$14.89 per share, for a total transaction of C$14,890.00. Following the transaction, the insider owned 10,400 shares of the company’s stock, valued at approximately C$154,856. The trade was a 10.64% increase in their position.

Major Drilling Group International Stock Up 0.9%

Shares of TSE:MDI opened at C$14.93 on Friday. Major Drilling Group International Inc. has a 1 year low of C$8.57 and a 1 year high of C$18.70. The company has a market capitalization of C$1.23 billion, a PE ratio of 57.42, a price-to-earnings-growth ratio of 3.45 and a beta of 1.59. The business has a fifty day moving average price of C$16.44 and a two-hundred day moving average price of C$15.80. 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 (TSE:MDI) last released its 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 return on equity of 3.91% and a net margin of 2.40%. Analysts forecast that Major Drilling Group International Inc. will post 0.5757162 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MDI shares. 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 research note on Friday, June 5th. TD raised their price target on shares of Major Drilling Group International from C$21.00 to C$22.00 and gave the stock a “buy” rating in a research note on Friday, June 12th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Major Drilling Group International presently has a consensus rating of “Buy” and an average price target of C$21.00.

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.