In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Trinidad Drilling (TSX: TDG). Analyst Vladislav Vlad from Scotiabank reiterated a Hold rating, with a C$2.50 price target on July 12.
According to TipRanks.com, Vlad is ranked #1299 out of 4843 analysts.
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Currently, the analyst consensus on Trinidad Drilling is a Moderate Buy with an average price target of C$2.37, representing a 31.7% upside. In a report issued on June 29, Canaccord Genuity also maintained a Hold rating on the stock with a C$2.20 price target.
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Based on Trinidad Drilling’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of C$22.46 million. In comparison, last year the company had a GAAP net loss of C$5.58 million.
Trinidad Drilling Ltd. is an industry-leading contract driller, which engages in the provision of safe, reliable, designed equipment operated by well-trained and experienced personnel. It operates through the following segments: Canadian Operations, U.S. and International Operations, Joint Venture Operations, Manufacturing Operations, and Corporate.
The company’s shares closed on Friday at C$1.80.
