Royal Bank of Canada Lowers Major Drilling Group International (TSE:MDI) Price Target to C$14.00

Major Drilling Group International (TSE:MDI) had its price objective dropped by research analysts at Royal Bank of Canada from C$15.00 to C$14.00 in a report released on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s price target suggests a potential upside of 57.84% from the stock’s current price.

Separately, TD Securities reduced their target price on Major Drilling Group International from C$14.00 to C$13.00 in a research report on Friday, September 6th.

Major Drilling Group International Stock Up 0.2 %

Shares of MDI stock traded up C$0.02 during mid-day trading on Tuesday, hitting C$8.87. 32,485 shares of the stock traded hands, compared to its average volume of 114,037. The company has a debt-to-equity ratio of 1.29, a current ratio of 3.35 and a quick ratio of 1.92. The stock has a market cap of C$725.92 million, a P/E ratio of 15.51, a P/E/G ratio of 3.45 and a beta of 1.65. The stock’s fifty day moving average is C$8.54 and its two-hundred day moving average is C$8.86. Major Drilling Group International has a 52-week low of C$6.98 and a 52-week high of C$10.39.

Insider Activity

In related news, Senior Officer Benjamin Luke Graham sold 12,400 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of C$8.80, for a total transaction of C$109,144.95. Insiders own 0.32% of the company’s stock.

Major Drilling Group International Company Profile

Major Drilling Group International Inc provides contract drilling services for mining and mineral exploration companies. The company offers a suite of drilling services, including surface and underground coring, directional, reverse circulation, sonic, geotechnical, environmental, water-well, coal-bed methane, shallow gas, underground percussive, longhole drilling, surface drill and blast, and related mining services.