Added to YB: 2026-09-08
Pitch date: 2026-09-04
MDI.TO [neutral]
Major Drilling Group International Inc.
Author Info
No bio for this author
Company Info
Major Drilling Group International Inc. provides contract drilling services to mining and mineral exploration companies in the United States, Canada, North America, South and Central America, Australasia, and Africa.
Market Cap
CAD 1.4B
Pitch Price
N/A
Price Target
24.60
Dividend
N/A
EV/EBITDA
12.41
P/E
51.95
EV/Sales
1.42
Sector
Metals and Mining
Category
turnaround
Major Drilling offers a balanced risk/reward at C$16.10, with meaningful upside if margins recover and downside supported by a strong balance sheet and resilient cash-generating business.
MDI.TO (monitor): Major Drilling is worth keeping for existing holders, but C$16.10 already reflects substantial recovery: the shares have risen 70% in 12 months while earnings have not. Two consecutive quarters of sequential adjusted-gross-margin improvement, now 24.0%, are encouraging, but two more are needed to establish the recovery. Base-case value is C$14.40–17.20; stronger pricing and productivity could support C$21.20–24.60, while persistent wage and trainee costs remain the key risk.
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