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

Major Drilling Group International (TSE:MDI) had its target price boosted by TD from C$21.00 to C$22.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD’s price objective suggests a potential upside of 22.84% from the stock’s current price.

A number of other research analysts have also recently issued reports on the company. Royal Bank Of Canada set a C$20.00 price objective on Major Drilling Group International and gave the company an “outperform” rating in a research note on Friday, June 5th. TD Securities increased 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 report on Friday, February 27th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Major Drilling Group International has an average rating of “Buy” and a consensus price target of C$21.00.

Major Drilling Group International Trading Up 1.8%

Shares of TSE:MDI traded up C$0.32 on Friday, reaching C$17.91. 261,621 shares of the company traded hands, compared to its average volume of 262,651. The business’s 50-day simple moving average is C$16.78 and its 200 day simple moving average is C$15.60. Major Drilling Group International has a 52 week low of C$8.51 and a 52 week high of C$18.65. The stock has a market capitalization of C$1.47 billion, a P/E ratio of 99.50, a price-to-earnings-growth ratio of 3.45 and a beta of 1.59. The company has a current ratio of 2.43, a quick ratio of 1.92 and a debt-to-equity ratio of 6.32.

Major Drilling Group International (TSE:MDI) last announced its quarterly earnings data on Wednesday, June 10th. The company reported C$0.10 earnings per share (EPS) for the quarter. Major Drilling Group International had a return on equity of 3.91% and a net margin of 2.40%.The firm 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 fiscal 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.