Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, December 10, 2010

Article Excerpt

MAJOR DRILLING, $41.95, symbol MDI on Toronto, jumped 18% this week after the company reported sharply higher results in the latest quarter. In the three months ended October 31, 2010, Major’s revenue jumped 69.2%, to $127.8 million from $75.5 million a year earlier. The company earned $11.4 million, or $0.48 a share, up from $4.1 million, or $0.17 a share. Cash flow was $18.6 million, or $0.78 a share, in the latest quarter. That’s up 51.2%, from $12.3 million, or $0.51 a share. Major expects to see a continued rebound during 2011. Gold prices are at all-time highs, base-metal prices are strong, and many mining companies have raised new funds for exploration. Major holds cash of $35.8 million, or $1.50 a share. Its $11.7 million of long-term debt is just 1.2% of its market cap. The shares yield 0.5%. The company plans to split its shares on a 3-for-1 basis on March 21, 2011. With its specialized drilling capabilities and strong balance…