13:12:24 EDT Tue 23 Apr 2024
Enter Symbol
or Name
USA
CA



Major Drilling Group International Inc
Symbol MDI
Shares Issued 80,136,884
Close 2016-09-27 C$ 6.49
Market Cap C$ 520,088,377
Recent Sedar Documents

Stock Pickers says buy Major Drilling if aggressive

2016-09-27 21:17 ET - In the News

Stock Pickers Digest, in the September, 2016, issue, says buy Major Drilling Group International Inc., recently $7.59. Stock Pickers said buy 15 times from December, 2004, to January, 2016, at prices ranging from $4.39 to $28.70 (the stock split 3 for 1 on March 21, 2011). Assuming a $1,000 investment for each of the 15 buys, the $15,000 position is now worth $16,925. Major, a contract driller that focuses on miners, continues to report positive cash flow despite the significant industry downturn. In the quarter ended April 30, 2016, its cash flow per share came to one cent, a steep drop from seven cents a year earlier, but still on the plus side of the ledger. Revenue fell to $64.1-million from $81.2-million. To conserve cash, Major reduced its semi-annual dividend to two cents from 10 cents last year and then eliminated the dividend this past March. It now holds $50.2-million or 63 cents a share in cash, and its debt is just $12.2-million. Stock Pickers expects the company to rally nicely as commodity prices (and thus drilling activity) pick up. The stock is a buy for aggressive investors.

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