Major Drilling Group International (TSE:MDI) Issues Quarterly Earnings Results

Major Drilling Group International (TSE:MDI) posted its earnings results on Wednesday. The company reported C$0.10 earnings per share for the quarter, FiscalAI reports. The firm 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%.

Major Drilling Group International Stock Up 8.4%

Shares of TSE:MDI opened at C$17.59 on Friday. The company has a quick ratio of 1.92, a current ratio of 2.43 and a debt-to-equity ratio of 6.32. Major Drilling Group International has a 52-week low of C$8.51 and a 52-week high of C$18.65. The stock’s fifty day simple moving average is C$16.78 and its 200-day simple moving average is C$15.60. The company has a market capitalization of C$1.44 billion, a P/E ratio of 97.72, a P/E/G ratio of 3.45 and a beta of 1.59.

Analysts Set New Price Targets

MDI has been the subject of a number of research reports. Royal Bank Of Canada set a C$20.00 price objective on Major Drilling Group International and gave the company an “outperform” rating in a research note on Friday, June 5th. TD Securities upped their price target on Major Drilling Group International from C$16.00 to C$21.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Major Drilling Group International presently has an average rating of “Buy” and a consensus target price of C$20.50.

Major Drilling Group International Company Profile

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.