Major Drilling Group International (TSE:MDI) Releases Quarterly Earnings Results

Major Drilling Group International (TSE:MDI) issued its earnings results on Wednesday. The company reported C$0.10 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of C$233.69 million for the quarter. Major Drilling Group International had a net margin of 1.68% and a return on equity of 2.63%.

Major Drilling Group International Stock Performance

Shares of MDI stock opened at C$16.23 on Thursday. The company has a debt-to-equity ratio of 7.68, a quick ratio of 1.92 and a current ratio of 2.71. The company has a market capitalization of C$1.33 billion, a P/E ratio of 90.17, a price-to-earnings-growth ratio of 3.45 and a beta of 1.59. The company’s 50 day moving average price is C$16.75 and its two-hundred day moving average price is C$15.57. Major Drilling Group International has a 52 week low of C$8.51 and a 52 week high of C$18.65.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada set a C$20.00 target price on shares of Major Drilling Group International and gave the company an “outperform” rating in a research note on Friday, June 5th. TD Securities raised their target price on shares of Major Drilling Group International from C$16.00 to C$21.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$20.50.

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.