Insider Selling: Major Drilling Group International (TSE:MDI) Director Sells 6,000 Shares of Stock

Major Drilling Group International Inc. (TSE:MDI) Director Jo Mark Zurel sold 6,000 shares of Major Drilling Group International stock in a transaction dated Friday, June 12th. The shares were sold at an average price of C$17.84, for a total transaction of C$107,040.00. Following the completion of the transaction, the director directly owned 5,600 shares of the company’s stock, valued at C$99,904. This trade represents a 51.72% decrease in their ownership of the stock.

Major Drilling Group International Stock Performance

Shares of TSE:MDI traded up C$0.40 during trading on Friday, reaching C$17.99. 274,221 shares of the company’s stock traded hands, compared to its average volume of 262,751. The company has a debt-to-equity ratio of 6.32, a current ratio of 2.43 and a quick ratio of 1.92. Major Drilling Group International Inc. has a 12 month low of C$8.51 and a 12 month high of C$18.65. The company has a 50 day moving average of C$16.78 and a 200-day moving average of C$15.60. The stock has a market capitalization of C$1.48 billion, a P/E ratio of 99.94, a price-to-earnings-growth ratio of 3.45 and a beta of 1.59.

Major Drilling Group International (TSE:MDI) last announced its quarterly earnings data on Wednesday, June 10th. The company reported C$0.10 earnings per share for the quarter. Major Drilling Group International had a net margin of 2.40% and a return on equity of 3.91%. The business had revenue of C$233.69 million during the quarter. On average, equities analysts expect that Major Drilling Group International Inc. will post 0.5757162 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on MDI shares. TD boosted their target price on shares of Major Drilling Group International from C$21.00 to C$22.00 and gave the company a “buy” rating in a research note on Friday. Royal Bank Of Canada set a C$20.00 price target on Major Drilling Group International and gave the stock an “outperform” rating in a research report on Friday, June 5th. Finally, TD Securities boosted their price target on Major Drilling Group International from C$16.00 to C$21.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$21.00.

About Major Drilling Group International

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.