Major Drilling Group International (TSE:MDI) Sets New 12-Month High - Still a Buy?

Key Points

• Major Drilling Group International Inc. shares reached a new 12-month high, trading at C$12.22, with a notable volume of 30,460 shares on Wednesday.
• The company has a market cap of C$1.00 billion, a price-to-earnings (P/E) ratio of 49.00, and shows signs of financial stability with a current ratio of 3.59.
• Insider trading activity includes a sale of 20,000 shares by John Ross Davies and a recent purchase of 4,000 shares by Denis Joseph Larocque, indicating differing sentiment among insiders.

Shares of Major Drilling Group International Inc. (TSE:MDI - ) hit a new 52-week high on Wednesday . The company traded as high as C$12.22 and last traded at C$12.14, with a volume of 30460 shares trading hands. The stock had previously closed at C$11.80.

Major Drilling Group International Stock Performance

The company has a debt-to-equity ratio of 1.17, a current ratio of 3.59 and a quick ratio of 1.92. The firm has a fifty day simple moving average of C$10.21 and a two-hundred day simple moving average of C$9.11. The firm has a market cap of C$1.00 billion, a price-to-earnings ratio of 49.00, a P/E/G ratio of 3.45 and a beta of 0.99.

Insider Buying and Selling

In related news, insider John Ross Davies sold 20,000 shares of Major Drilling Group International stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of C$11.79, for a total transaction of C$235,800.00. Also, insider Denis Joseph Larocque bought 4,000 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The shares were purchased at an average cost of C$9.79 per share, with a total value of C$39,160.00. Following the acquisition, the insider directly owned 88,275 shares of the company's stock, valued at approximately C$864,212.25. This trade represents a 4.75% increase in their ownership of the stock. 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.

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