Major Drilling Group International (TSE:MDI) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Major Drilling Group International (TSE:MDI) had its price objective increased by investment analysts at Royal Bank Of Canada from C$17.00 to C$20.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 13.90% from the stock’s current price.

Separately, TD Securities upped their target price on shares of Major Drilling Group International from C$13.00 to C$16.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$18.00.

Major Drilling Group International Price Performance

Shares of MDI traded up C$0.42 during midday trading on Tuesday, hitting C$17.56. 285,595 shares of the company traded hands, compared to its average volume of 279,297. Major Drilling Group International has a one year low of C$6.51 and a one year high of C$17.60. The firm has a market cap of C$1.44 billion, a P/E ratio of 92.42, a PEG ratio of 3.45 and a beta of 1.51. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.59 and a quick ratio of 1.92. The stock has a 50-day moving average of C$14.73 and a 200-day moving average of C$12.59.

Insider Buying and Selling at Major Drilling Group International

In related news, insider Benjamin Luke Graham sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of C$16.32, for a total value of C$163,200.00. Company insiders own 0.32% of the company’s stock.

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.