Royal Bank of Canada Issues Pessimistic Forecast for Major Drilling Group International (TSE:MDI) Stock Price

Major Drilling Group International (TSE:MDI) had its price target cut by research analysts at Royal Bank of Canada from C$15.00 to C$14.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s target price points to a potential upside of 59.82% from the stock’s previous close.

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

Major Drilling Group International Price Performance

Major Drilling Group International stock opened at C$8.76 on Tuesday. The company has a current ratio of 3.35, a quick ratio of 1.92 and a debt-to-equity ratio of 1.29. The business’s 50 day simple moving average is C$8.55 and its 200 day simple moving average is C$8.86. Major Drilling Group International has a 12 month low of C$6.98 and a 12 month high of C$10.39. The company has a market cap of C$716.92 million, a price-to-earnings ratio of 15.37, a PEG ratio of 3.45 and a beta of 1.65.

Insider Activity

In other news, Senior Officer Benjamin Luke Graham sold 12,400 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of C$8.80, for a total value 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 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.