TD Securities Trims Major Drilling Group Int’l (MDI) Target Price to C$6.50

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Major Drilling Group Int’l (TSE:MDI) had its target price lowered by stock analysts at TD Securities from C$8.00 to C$6.50 in a research report issued to clients and investors on Thursday. The firm currently has a “hold” rating on the stock. TD Securities’ target price points to a potential upside of 21.95% from the stock’s previous close.

Shares of MDI opened at C$5.33 on Thursday. Major Drilling Group Int’l has a 12-month low of C$4.90 and a 12-month high of C$7.89.

Major Drilling Group Int’l (TSE:MDI) last issued its earnings results on Tuesday, September 4th. The company reported C($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C($0.04) by C$0.01. Major Drilling Group Int’l had a negative return on equity of 2.86% and a negative net margin of 3.09%. The company had revenue of C$98.49 million for the quarter, compared to analysts’ expectations of C$100.30 million.

In other news, insider Denis Joseph Larocque bought 5,000 shares of the business’s stock in a transaction that occurred on Thursday, June 14th. The shares were bought at an average cost of C$6.98 per share, for a total transaction of C$34,900.00.

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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