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

Major Drilling Group International (TSE:MDI) had its target price lifted by TD Securities from C$16.00 to C$21.00 in a research report issued on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ price target would suggest a potential upside of 15.26% from the stock’s current price.

Separately, Royal Bank Of Canada lifted their price target on shares of Major Drilling Group International from C$17.00 to C$20.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, Major Drilling Group International currently has a consensus rating of “Buy” and a consensus target price of C$20.50.

Major Drilling Group International Stock Performance

TSE MDI opened at C$18.22 on Friday. The company has a market cap of C$1.50 billion, a PE ratio of 95.89, a price-to-earnings-growth ratio of 3.45 and a beta of 1.51. The stock’s 50 day simple moving average is C$15.11 and its 200-day simple moving average is C$12.82. Major Drilling Group International has a 1-year low of C$6.51 and a 1-year high of C$18.35. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.59 and a quick ratio of 1.92.

Insider Buying and Selling at Major Drilling Group International

In other news, insider Benjamin Luke Graham sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of C$16.32, for a total transaction of C$163,200.00. 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.