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

Shares of Major Drilling Group International Inc. (TSE:MDI) hit a new 52-week high on Wednesday . The stock traded as high as C$16.70 and last traded at C$16.63, with a volume of 77830 shares trading hands. The stock had previously closed at C$16.45.

Analyst Ratings Changes

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

Major Drilling Group International Price Performance

The company has a market cap of C$1.37 billion, a P/E ratio of 88.11, a P/E/G ratio of 3.45 and a beta of 1.51. The company’s 50-day moving average price is C$14.31 and its two-hundred day moving average price is C$12.21. The company has a current ratio of 3.59, a quick ratio of 1.92 and a debt-to-equity ratio of 1.17.

Insider Activity

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

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.