Major Drilling Group International's stock has shown mixed performance recently, with a notable increase today amidst some fluctuations over the past week.
As of Wednesday, Major Drilling Group International (MDI.TO) closed at C$14.49, reflecting a 3.50% increase in price for the day. However, the stock has experienced a decline of 2.03% over the past week and a more significant drop of 5.11% in the last month. Year-to-date, MDI.TO has appreciated by 8.38%.
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Major Drilling Group International
MDI.TO
MDI.TO
Major Drilling Group International
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Market cap
$1.27B
P/E
63.8x
52W high
$18.70
52W low
$8.75
1W change
+11.04%
Beta
1.33
Analyst Price Targets
Based on analyst covering MDI
Wall Street analysts forecast MDI stock price to rise 26.3% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$20.95
+26.3% Upside
Current Price
C$16.59
Last close
Analyst ratings and price targets are updated periodically. Not financial advice.
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Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on MDI's historical volatility
30-Day Vol
36.0%
Annualized
90-Day Vol
45.0%
Annualized
Trend (90d)
+13.1%
Annualized drift
90d Mean
C$17.39
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$16.85 | C$14.88 – C$19.08 |
| 60 trading days | C$17.12 | C$14.36 – C$20.40 |
| 90 trading days | C$17.39 | C$14.02 – C$21.56 |
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.
Investor takeaway: Despite the recent volatility, Major Drilling's strong quarterly revenue growth reported last year could provide a solid foundation for investor confidence moving forward.
C$14.49 - Last Close
The stock has traded within a 52-week range of C$8.57 to C$18.70, positioning it at 58% of its range, suggesting room for both upward and downward movement.
Bull case
The company reported record quarterly revenues, with a 29% increase noted in its Q2 2026 results. This momentum indicates ongoing demand in the mining sector, which could enhance Major Drilling's growth prospects.
Bear case
The stock's performance has been inconsistent, with significant price fluctuations and a recent drop in trading volume compared to its average. This trend may signal caution among investors.
Recent Price Action
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Major Drilling Group International's stock closed at C$14.49, up by 3.50% for the day. However, the stock has faced a downward trend over the past week, declining by 2.03%, and a more substantial drop of 5.11% in the last month. Year-to-date, the stock has gained 8.38%, highlighting some resilience amid recent volatility.
Company News and Catalysts
While there has been no significant company news this week, Major Drilling's recent record quarterly revenue announcements from last year continue to resonate with investors. The Q2 2026 results, which reported a revenue increase of 29% year-over-year, may help bolster investor confidence in the company's growth trajectory.
Technical Picture
The stock is currently trading below its 50-day moving average of C$15.85, indicating a potential bearish trend. The 200-day moving average stands at C$14.98, suggesting that MDI.TO is slightly below this longer-term indicator as well. The stock has a beta of 1.33, implying higher volatility compared to the market. With a current volume of 107,920 shares, MDI.TO is trading at 0.42 times its 20-day average volume of 256,261 shares, indicating reduced trading activity.
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