Major Drilling Group International (TSE:MDI) receives new price target of CA$15.00 at Royal Bank of Canada
Major Drilling Group International (TSE:MDI – Get Rating) saw its target price raised by Royal Bank of Canada research analysts from C$14.00 to C$15.00 in a report released Wednesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 24.58% from the current share price.
Separately, TD Securities raised its price target on Major Drilling Group International from C$12.50 to C$14.00 and gave the company a “buy” rating in a Monday, March 7 report.
Shares of TSE MDI traded at C$1.46 during trading hours on Wednesday, hitting C$12.04. The stock had a trading volume of 572,094 shares, compared to an average volume of 183,220. The company has a current ratio of 3.02, a quick ratio of 1.87 and a debt ratio of 16.87 . The company has a market cap of C$992.10 million and a price-to-earnings ratio of 29.85. The company’s fifty-day moving average price is C$11.12 and its two-hundred-day moving average price is C$9.92. Major Drilling Group International has a 52-week low of CA$7.19 and a 52-week high of CA$12.86.
In related news, senior officer Patrick Kelly Johnson sold 15,000 shares of the company in a trade on Monday, March 21. The stock was sold at an average price of CA$12.22, for a total value of CA$183,300.00. As a result of the transaction, the insider now directly owns 16,000 shares of the company, valued at approximately C$195,520. Additionally, insider Mill Road Capital III, LP sold 64,600 shares of the company in a trade on Monday, April 18. The shares were sold at an average price of CA$12.58, for a total value of CA$812,616.32. Following the completion of the transaction, the insider now directly owns 8,860,740 shares of the company, valued at C$111,461,020.61. Insiders have sold 106,200 shares of the company valued at $1,320,239 in the past three months.
Major Drilling Group International Company Profile (Get an evaluation)
Major Drilling Group International Inc provides contract drilling services for mining and mineral exploration companies. The Company offers a range of drilling services, including surface and underground, directional, reverse circulation, sonic, geotechnical, environmental, water well, coal bed methane, shallow gas, underground percussion coring , longhole drilling, surface drilling and blasting, and related services.
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