Major Drilling Group International (TSE:MDI) Hits New 12-Month Low – What’s Next?

Major Drilling Group International Inc. (TSE:MDI)’s share price reached a new 52-week low on Friday . The stock traded as low as C$6.75 and last traded at C$6.78, with a volume of 71009 shares changing hands. The stock had previously closed at C$7.58.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada cut their price objective on shares of Major Drilling Group International from C$15.00 to C$14.00 in a research report on Tuesday, December 10th.

Major Drilling Group International Price Performance

The company has a current ratio of 3.59, a quick ratio of 1.92 and a debt-to-equity ratio of 1.17. The company has a 50 day moving average of C$8.27 and a 200-day moving average of C$8.42. The firm has a market capitalization of C$567.38 million, a P/E ratio of 13.62, a P/E/G ratio of 3.45 and a beta of 1.65.

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.