Laurentian Raises Major Drilling Group International (TSE:MDI) Price Target to C$17.50

Major Drilling Group International (TSE:MDIGet Rating) had its target price boosted by Laurentian from C$14.00 to C$17.50 in a research note issued to investors on Thursday, BayStreet.CA reports. Laurentian’s price objective points to a potential upside of 46.32% from the company’s current price.

Other analysts have also issued reports about the stock. Royal Bank of Canada increased their price objective on shares of Major Drilling Group International from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a research report on Wednesday. TD Securities boosted their price objective on Major Drilling Group International from C$12.50 to C$14.00 and gave the company a “buy” rating in a report on Monday, March 7th.

MDI traded up C$0.02 during trading on Thursday, reaching C$11.96. The company had a trading volume of 221,150 shares, compared to its average volume of 184,864. The company has a quick ratio of 1.87, a current ratio of 3.02 and a debt-to-equity ratio of 16.87. The business has a 50 day simple moving average of C$11.12 and a 200-day simple moving average of C$9.93. The stock has a market cap of C$989.16 million and a P/E ratio of 29.98. Major Drilling Group International has a 52 week low of C$7.19 and a 52 week high of C$12.86.

In related news, Senior Officer Patrick Kelly Johnson sold 20,000 shares of the company’s stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of C$12.09, for a total value of C$241,800.00. Following the completion of the sale, the insider now directly owns 16,000 shares of the company’s stock, valued at C$193,440. Also, insider Mill Road Capital III, L.P. sold 64,600 shares of the firm’s stock in a transaction dated Monday, April 18th. The shares were sold at an average price of C$12.58, for a total transaction of C$812,616.32. Following the transaction, the insider now directly owns 8,860,740 shares in the company, valued at approximately C$111,461,020.61. Over the last three months, insiders sold 106,200 shares of company stock valued at $1,320,239.

Major Drilling Group International Company Profile (Get Rating)

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 services.

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