Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, September 10, 2010

Article Excerpt

MAJOR DRILLING, $27.04, symbol MDI on Toronto, jumped 10% this week after the company reported sharply higher results in the latest quarter. Major’s revenue jumped 75.2% in the three months ended July 31, 2010, to $109.5 million from $62.5 million a year earlier. The company earned $5.1 million, or $0.21 a share. A year earlier, it lost $3.3 million, or $0.14 a share. Cash flow was $12.1 million, or $0.51 a share, in the latest quarter, up 58.9% from $7.6 million, or $0.32 a share. 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 $35.2 million, or $1.48 a share. Its $13.4 million of long-term debt is just 2.1% of its market cap. The company is raising its twice-yearly dividend by 10%, to $0.22 from $0.20, with the November 2010 payment. The new…

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