Trinidad Drilling Ltd. (TSE:TDG) traded down 3.2% during mid-day trading on Friday . The company traded as low as C$1.77 and last traded at C$1.80. 2,120,608 shares traded hands during trading, an increase of 296% from the average session volume of 535,524 shares. The stock had previously closed at C$1.86.

A number of equities research analysts have weighed in on TDG shares. Raymond James Financial, Inc. decreased their target price on Trinidad Drilling from C$3.80 to C$2.80 and set a “speculative buy” rating for the company in a research report on Tuesday, August 22nd. National Bank Financial decreased their target price on Trinidad Drilling from C$3.25 to C$2.60 in a research report on Thursday, August 3rd. BMO Capital Markets raised Trinidad Drilling from a “market perform” rating to an “outperform” rating and set a C$3.00 target price for the company in a research report on Thursday, August 3rd. Canaccord Genuity lowered Trinidad Drilling from a “buy” rating to a “hold” rating and decreased their target price for the company from C$2.50 to C$1.90 in a research report on Wednesday, August 2nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a C$4.00 target price on shares of Trinidad Drilling in a research report on Wednesday, June 21st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Trinidad Drilling has a consensus rating of “Buy” and a consensus target price of C$3.38.

The company’s market cap is $487.88 million. The stock’s 50-day moving average price is $1.64 and its 200 day moving average price is $2.01.

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Trinidad Drilling Company Profile

Trinidad Drilling Ltd. is a Canada-based company, which operates in the drilling sector of the North American oil and natural gas industry, with operations in Canada and the United States. The Company operates through five segments, which include Canadian Operations, US and International Operations, Manufacturing Operations, Joint Venture Operations and Corporate.

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