Topic: How To Invest

Power Growth Investor Hotline – Friday, June 10, 2022

Article Excerpt

MAJOR DRILLING GROUP INTERNATIONAL INC., $11.64, is a buy for aggressive investors. The company (symbol MDI on Toronto) is a large contract driller mainly serving the mining industry. The stock jumped over 10% this week after the company reported stronger results in the latest quarter. Demand for Major’s specialized drilling services, especially from senior gold producers, is beginning to recover. That has pushed your shares up 415.0% since they plunged to a low of $2.26 in March 2020. In the quarter ended April 30, 2022, the company’s revenue jumped 48.3%, to $190.0 million from $128.1 million a year earlier. More specifically, revenue in the Canada-U.S. region increased 47.0% to $109.1 million. This region saw an influx in drilling activity for junior miners as well as extended programs from seniors/intermediates. South and Central American revenue increased by 46.3% to $47.7 million for the latest quarter. Operational challenges in relation to COVID-19 restrictions have eased. Asian and African operations reported revenue of $33.2 million, which was up 56.6%…