Major Drilling Group International (TSE:MDI) Sets New 52-Week High – Here’s What Happened

Major Drilling Group International Inc. (TSE:MDI) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$14.79 and last traded at C$14.75, with a volume of 63714 shares. The stock had previously closed at C$14.39.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Royal Bank Of Canada increased their price target on Major Drilling Group International from C$14.00 to C$17.00 in a research report on Tuesday, December 16th. TD Securities lifted their target price on Major Drilling Group International from C$13.00 to C$16.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$16.50.

Major Drilling Group International Trading Up 3.9%

The business’s 50 day simple moving average is C$13.33 and its 200 day simple moving average is C$11.46. The stock has a market cap of C$1.28 billion, a P/E ratio of 82.32, a PEG ratio of 3.45 and a beta of 1.35. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.59 and a quick ratio of 1.92.

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.