Royal Bank of Canada Issues Pessimistic Forecast for Major Drilling Group International (TSE:MDI) Stock Price

Major Drilling Group International (TSE:MDI) had its price objective decreased by research analysts at Royal Bank of Canada from C$15.00 to C$14.00 in a note issued to investors on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s price objective indicates a potential upside of 59.82% from the company’s previous close.

Separately, TD Securities decreased their price objective on Major Drilling Group International from C$14.00 to C$13.00 in a report on Friday, September 6th.

Major Drilling Group International Stock Performance

Shares of Major Drilling Group International stock opened at C$8.76 on Tuesday. The business has a 50-day simple moving average of C$8.55 and a 200 day simple moving average of C$8.86. Major Drilling Group International has a one year low of C$6.98 and a one year high of C$10.39. The company has a debt-to-equity ratio of 1.29, a current ratio of 3.35 and a quick ratio of 1.92. The firm has a market capitalization of C$716.92 million, a price-to-earnings ratio of 15.37, a PEG ratio of 3.45 and a beta of 1.65.

Insider Activity

In other Major Drilling Group International news, Senior Officer Benjamin Luke Graham sold 12,400 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of C$8.80, for a total transaction of C$109,144.95. Corporate insiders own 0.32% of the company’s stock.

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.