Major Drilling Group Int’l (TSE:MDI) Rating Increased to Buy at Beacon Securities

Major Drilling Group Int’l (TSE:MDI) was upgraded by investment analysts at Beacon Securities from a “hold” rating to a “buy” rating in a research report issued on Tuesday, reports.

Separately, TD Securities raised Major Drilling Group Int’l from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$5.50 to C$6.50 in a research report on Tuesday.

Shares of MDI stock traded up C$0.15 during trading hours on Tuesday, reaching C$5.95. 558,146 shares of the company traded hands, compared to its average volume of 82,115. Major Drilling Group Int’l has a 12-month low of C$3.89 and a 12-month high of C$6.00. The company has a debt-to-equity ratio of 4.78, a current ratio of 3.28 and a quick ratio of 1.82. The company has a market cap of $432.01 million and a P/E ratio of -25.87. The firm has a 50-day moving average price of C$4.87 and a 200 day moving average price of C$4.42.

About Major Drilling Group Int’l

Major Drilling Group International Inc primarily provides contract drilling services for mining and mineral exploration companies. It 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 various mine services.

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