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

Major Drilling Group International Inc. (TSE:MDI) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$14.44 and last traded at C$14.40, with a volume of 163637 shares changing hands. The stock had previously closed at C$13.91.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MDI shares. Royal Bank Of Canada upped their target price on shares of Major Drilling Group International from C$14.00 to C$17.00 in a report on Tuesday, December 16th. TD Securities boosted their price target on Major Drilling Group International from C$13.00 to C$16.00 and gave the company a “buy” rating in a research note on Friday, December 5th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$16.50.

Major Drilling Group International Price Performance

The firm has a market cap of C$1.21 billion, a PE ratio of 77.58, a P/E/G ratio of 3.45 and a beta of 1.35. The stock’s fifty day moving average price is C$12.78 and its 200-day moving average price is C$11.00. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.92 and a current ratio of 3.59.

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.