Key Points
- Insider buying: Marc Landry purchased 1,000 shares of Major Drilling Group International at C$14.89 each, increasing his holdings by 10.64% to 10,400 shares.
- Stock and financial snapshot: The shares were up 2.3% and opened at C$14.80, with the company carrying a market cap of C$1.22 billion and trading well below its 1-year high of C$18.70.
- Analyst sentiment remains positive: TD and RBC both reiterated bullish views, and the stock currently has a consensus Buy rating with an average price target of C$21.00.
Major Drilling Group International Inc. (TSE:MDI - Get Free Report) insider Marc Landry acquired 1,000 shares of the business's stock in a transaction dated 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 C$154,856. This represents a 10.64% increase in their ownership of the stock.
Major Drilling Group International Stock Up 2.3%
Major Drilling Group International stock opened at C$14.80 on Friday. The company has a market cap of C$1.22 billion, a P/E ratio of 56.92, a price-to-earnings-growth ratio of 3.45 and a beta of 1.59. 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 fifty day simple moving average of C$16.50 and a 200 day simple moving average of C$15.81. 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 - Get Free Report) last posted its quarterly earnings results on Wednesday, June 10th. The company reported C$0.10 earnings per share for the quarter. The firm 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%. Research analysts anticipate that Major Drilling Group International Inc. will post 0.5757162 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms have weighed in on MDI. TD increased their price target on shares of Major Drilling Group International from C$21.00 to C$22.00 and gave the company a "buy" rating in a report on Friday, June 12th. Royal Bank Of Canada set a C$20.00 price objective on Major Drilling Group International and gave the stock an "outperform" rating in a report on Friday, June 5th. Finally, TD Securities upped their target price on Major Drilling Group International from C$16.00 to C$21.00 and gave the company a "buy" rating in a research report on Friday, February 27th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Major Drilling Group International currently has an average rating of "Buy" and a consensus price target of C$21.00.
View Our Latest Stock Report on MDI
Major Drilling Group International Company Profile
(
Get Free Report)
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.
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