Major Drilling Group International (TSE:MDI) Sets New 52-Week High on Analyst Upgrade

Major Drilling Group International Inc. (TSE:MDI)’s share price reached a new 52-week high on Wednesday after Royal Bank Of Canada raised their price target on the stock from C$17.00 to C$20.00. Royal Bank Of Canada currently has an outperform rating on the stock. Major Drilling Group International traded as high as C$17.60 and last traded at C$17.50, with a volume of 402582 shares trading hands. The stock had previously closed at C$17.14.

Separately, TD Securities raised their target price on shares of Major Drilling Group International from C$13.00 to C$16.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$18.00.

Insider Transactions at Major Drilling Group International

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

Major Drilling Group International Trading Up 2.1%

The stock has a market cap of C$1.44 billion, a P/E ratio of 92.11, 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 firm’s fifty day moving average price is C$14.82 and its two-hundred day moving average price is C$12.65.

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.