Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, June 18, 2010

Article Excerpt

MAJOR DRILLING, $24.94, symbol MDI on Toronto, reports that its revenue rose 46.6% in the three months ended April 30, 2010, to $97.4 million from $66.4 million a year earlier. The company earned $3.2 million, or $0.14 a share. A year earlier, it lost $4.6 million, or $0.19 a share. Cash flow was $9.4 million, or $0.40 a share, in the latest quarter. Major expects to see a continued rebound during the rest of 2010. Gold prices are near all-time highs, base-metal prices are strengthening, and many mining companies have raised new funds for exploration. Major holds cash of $30.2 million, or $1.27 a share. Its $15 million of long-term debt is just 2.5% of its market cap. The company started paying a $0.20, twice-yearly dividend in October 2009. The annual rate of $0.40 yields 1.6%, based on today’s price. With its specialized drilling capabilities and strong balance sheet, Major Drilling remains better positioned to profit during the economic recovery…