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Major Drilling (MDI) Receives a Hold from Beacon


The Materials sector company, Major Drilling (TSX: MDI), has received a rating update from a Wall Street analyst on September 11. Analyst Ahmad Shaath from Beacon reiterated a Hold rating on September 11.

The word on The Street in general, suggests a Hold analyst consensus rating for Major Drilling with a C$6.50 average price target, representing a 33.7% upside. In a report issued on September 6, TD Securities also reiterated a Hold rating on the stock with a C$6.50 price target.

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Major Drilling’s market cap is currently C$390.3M and has a P/E ratio of 0. The company has a Price to Book ratio of 1.05.

Major Drilling Group International, Inc. engages in the provision of water and mineral exploration drilling services. Its specialization include surface and underground coring, directional, reverse circulation, sonic, geotechnical, environmental, water-well, coal-bed methane, shallow gas, underground percussive or longhole drilling, surface drill and blast, and a variety of mine services. It operates though the following geographical segments: Canada-US; South and Central America; and Asia and Africa. The company was founded in 1980 and is headquartered in Moncton, Canada.

The company’s shares closed on Friday at C$4.86, close to its 52-week low of C$4.84.