Insider Buying: Major Drilling Group International (TSE:MDI) Insider Buys 1,000 Shares

Major Drilling Group International Inc. (TSE:MDI) insider Marc Landry purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was bought at an average price of C$14.89 per share, with a total value of C$14,890.00. Following the completion of the transaction, the insider directly owned 10,400 shares of the company’s stock, valued at approximately C$154,856. This represents a 10.64% increase in their ownership of the stock.

Major Drilling Group International Trading Up 2.3%

Major Drilling Group International stock traded up C$0.33 during trading on Thursday, reaching C$14.80. 189,809 shares of the company were exchanged, compared to its average volume of 265,309. Major Drilling Group International Inc. has a 52-week low of C$8.57 and a 52-week high of C$18.70. The company has a market capitalization of C$1.22 billion, a P/E ratio of 56.92, a PEG ratio of 3.45 and a beta of 1.59. The company has a debt-to-equity ratio of 6.32, a current ratio of 2.43 and a quick ratio of 1.92. The stock’s 50 day simple moving average is C$16.56 and its two-hundred day simple moving average is C$15.80.

Major Drilling Group International (TSE:MDI) last issued its earnings results on Wednesday, June 10th. The company reported C$0.10 earnings per share (EPS) for the quarter. The company had revenue of C$233.69 million during the quarter. Major Drilling Group International had a return on equity of 3.91% and a net margin of 2.40%. On average, equities research analysts expect that Major Drilling Group International Inc. will post 0.5757162 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MDI shares. Royal Bank Of Canada set a C$20.00 target price on shares of Major Drilling Group International and gave the company an “outperform” rating in a report on Friday, June 5th. TD lifted 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 research report on Friday, June 12th. Finally, TD Securities upped their price objective on Major Drilling Group International from C$16.00 to C$21.00 and gave the company a “buy” rating in a report on Friday, February 27th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$21.00.

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.