CIBC Reiterates Their Hold Rating on Mullen Group Ltd. (MTL)


In a latest note to investors, a research analyst has provided a rating update for the Mullen Group Ltd. (MTL). The company received a Hold yesterday from CIBC’s analyst Jon Morrison, with a C$15 price target.

According to TipRanks.com, Morrison is ranked 0 out of 5 stars with an average return of -17.3% and a 34.1% success rate. Morrison covers the Basic Materials sector, focusing on stocks such as Trican Well Service Ltd, Imperial Oil Limited, and Cenovus Energy Inc.

Mullen Group Ltd. has an analyst consensus of Moderate Buy, with a price target consensus of C$14.52.

Based on Mullen Group Ltd.’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$21.91 million. In comparison, last year the company had a net profit of C$5.37 million.

Mullen Group Ltd. provides freight trucking, management and oil field services through its subsidiaries. The company operates through two business segments: Oilfield Services and Trucking/Logistics. The Oilfield Services segment provides specialized transportation, drilling, well-servicing and dewatering services to the oil and natural gas industry.

The company’s shares closed on Friday at C$12.21, close to its 52-week low of C$11.39.

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