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The latest announcement is out from Major Drilling ( (TSE:MDI) ).
Major Drilling reported a 19.3% increase in revenue for the first quarter of fiscal 2026, driven by strong activity in Peru and Chile, which offset a slowdown in Australasia. Despite a slight decrease in EBITDA compared to the previous year, the company maintained a strong balance sheet and strategically relocated rigs to meet growing demand. The company anticipates continued growth in the next quarter, with potential margin improvements and increased activity in North America due to rising gold and copper prices and improved junior financing conditions.
The most recent analyst rating on (TSE:MDI) stock is a Buy with a C$10.00 price target. To see the full list of analyst forecasts on Major Drilling stock, see the TSE:MDI Stock Forecast page.
Spark’s Take on TSE:MDI Stock
According to Spark, TipRanks’ AI Analyst, TSE:MDI is a Outperform.
Major Drilling’s overall score is driven by solid financial health and positive future revenue projections. However, declining profit margins and a high P/E ratio are significant concerns. Technical indicators suggest neutral market sentiment.
To see Spark’s full report on TSE:MDI stock, click here.
More about Major Drilling
Major Drilling Group International Inc. is the largest provider of specialized drilling services to the mining sector, focusing on regions such as South & Central America, Australasia, and North America. The company is known for its strong safety culture, well-maintained fleet, and value-added drill side innovations.
Average Trading Volume: 113,829
Technical Sentiment Signal: Buy
Current Market Cap: C$841M
See more insights into MDI stock on TipRanks’ Stock Analysis page.