Major Drilling Group International (TSE:MDI) Hits New 1-Year High – Should You Buy?

Major Drilling Group International Inc. (TSE:MDI) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$14.79 and last traded at C$14.75, with a volume of 63714 shares changing hands. The stock had previously closed at C$14.39.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Royal Bank Of Canada lifted their price target on shares of Major Drilling Group International from C$14.00 to C$17.00 in a research report on Tuesday, December 16th. TD Securities increased their target price on shares of Major Drilling Group International from C$13.00 to C$16.00 and gave the stock a “buy” rating in a report on Friday, December 5th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$16.50.

Major Drilling Group International Stock Performance

The business’s fifty day moving average is C$13.24 and its 200-day moving average is C$11.41. The company has a quick ratio of 1.92, a current ratio of 3.59 and a debt-to-equity ratio of 1.17. The company has a market cap of C$1.21 billion, a PE ratio of 77.74, a P/E/G ratio of 3.45 and a beta of 1.35.

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. Its geographical segments are Canada – the United States; South and Central America; and Asia and Africa, of which most of its revenue comes from Canada – the United States.