Major Drilling Group International has reported a strong start to fiscal 2027, exceeding earnings expectations and highlighting robust growth across regions.
Recent earnings trend
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Major Drilling Group International
MDI.TO
MDI.TO
Major Drilling Group International
WealthAwesomeMarket cap
$1.32B
P/E
50.3x
52W high
$18.70
52W low
$9.24
1W change
-6.18%
Beta
1.33
Analyst Price Targets
Based on analyst covering MDI
Wall Street analysts forecast MDI stock price to rise 30.3% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$20.95
+30.3% Upside
Current Price
C$16.08
Last close
Analyst ratings and price targets are updated periodically. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on MDI's historical volatility
30-Day Vol
38.9%
Annualized
90-Day Vol
44.4%
Annualized
Trend (90d)
-3.9%
Annualized drift
90d Mean
C$15.86
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$16.01 | C$13.99 – C$18.31 |
| 60 trading days | C$15.93 | C$13.18 – C$19.26 |
| 90 trading days | C$15.86 | C$12.57 – C$20.01 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
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Analyst coverage: 4 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 2 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-10-31 | 2026-12-09 | — | 0.2500 | — |
| 2026-07-31 | 2026-09-02 | 0.1800 | 0.1600 | +12.5% |
| 2026-04-30 | 2026-06-10 | 0.1000 | 0.0800 | +25.0% |
| 2026-01-31 | 2026-02-25 | -0.1300 | -0.0800 | -62.5% |
| 2025-10-31 | 2025-12-10 | 0.1700 | 0.1700 | +0.0% |
| 2025-07-31 | 2025-09-08 | 0.1200 | 0.1800 | -33.3% |
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On September 2, 2026, Major Drilling Group International (TSE: MDI) released its Q1 fiscal 2027 earnings report, showcasing a notable 12.5% earnings surprise. The company reported earnings per share (EPS) of CAD 0.18, surpassing the CAD 0.16 consensus estimate. This performance underscores a significant rebound in drilling activities and a strategic expansion of operations.
Investor takeaway: With a solid earnings beat and record revenue growth, Major Drilling appears well-positioned to capitalize on increasing demand in the mining sector. Investors should consider the implications of ongoing capital expenditures and the potential for margin improvements as the company navigates a competitive landscape.
Earnings Surprise: 12.5%
Major Drilling's EPS growth of 50% year-over-year reflects the company's strategic initiatives in a recovering market, but ongoing costs could temper future profitability.
Bull case
The company’s revenue grew by 22% year-over-year, driven by increased demand for specialized drilling services. This puts Major Drilling in a strong position as the mining sector recovers. The successful deployment of new rigs and expansion into emerging markets could further boost profitability.
Bear case
Despite the positive earnings report, challenges remain. Rising labor and operational costs may squeeze profit margins. Additionally, with 85% of revenue coming from senior mining companies, there’s a risk if exploration budgets are cut.
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