Major Drilling Group International Inc.

TSX:MDI Stock Report

Market Cap: CA$967.9m

Major Drilling Group International Valuation

Is MDI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of MDI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

CA$18.24
Fair Value
35.2% undervalued intrinsic discount
5
Number of Analysts

Below Fair Value: MDI (CA$11.82) is trading below our estimate of fair value (CA$18.24)

Significantly Below Fair Value: MDI is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MDI?

Key metric: As MDI is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for MDI. This is calculated by dividing MDI's market cap by their current earnings.
What is MDI's PE Ratio?
PE Ratio48x
EarningsCA$20.16m
Market CapCA$967.91m

Price to Earnings Ratio vs Peers

How does MDI's PE Ratio compare to its peers?

The above table shows the PE ratio for MDI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average37.7x
SCZ Santacruz Silver Mining
11.1xn/aCA$937.8m
AFM Alphamin Resources
9.1x22.47%CA$1.5b
EMX EMX Royalty
110.9xn/aCA$752.6m
ARG Amerigo Resources
19.9xn/aCA$445.7m
MDI Major Drilling Group International
48x18.42%CA$967.9m

Price-To-Earnings vs Peers: MDI is expensive based on its Price-To-Earnings Ratio (48x) compared to the peer average (37.7x).

Price to Earnings Ratio vs Industry

How does MDI's PE Ratio compare vs other companies in the CA Metals and Mining Industry?

30 CompaniesPrice / EarningsEstimated GrowthMarket Cap
THX Thor Explorations
4.8x-23.66%US$653.24m
NIF.UN Noranda Income Fund
4.2xn/aUS$72.05m
LUC Lucara Diamond
1.2x-95.87%US$63.59m
MGZ.H Mangazeya Mining
0.9xn/aUS$32.84m
MDI 48.0xIndustry Avg. 24.0xNo. of Companies30PE020406080100+
30 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MDI is expensive based on its Price-To-Earnings Ratio (48x) compared to the Canadian Metals and Mining industry average (24x).

Price to Earnings Ratio vs Fair Ratio

What is MDI's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MDI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio48x
Fair PE Ratio17.9x

Price-To-Earnings vs Fair Ratio: MDI is expensive based on its Price-To-Earnings Ratio (48x) compared to the estimated Fair Price-To-Earnings Ratio (17.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst MDI forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$11.82
CA$13.40
+13.37%
11.17%CA$16.00CA$12.00n/a5
Sep ’26CA$9.68
CA$13.60
+40.50%
13.64%CA$17.00CA$12.00n/a5
Aug ’26CA$8.73
CA$13.60
+55.78%
13.64%CA$17.00CA$12.00n/a5
Jul ’26CA$8.86
CA$13.60
+53.50%
13.64%CA$17.00CA$12.00n/a5
Jun ’26CA$8.08
CA$13.55
+67.70%
14.59%CA$17.00CA$11.00n/a5
May ’26CA$8.40
CA$13.75
+63.69%
15.75%CA$17.00CA$11.00n/a4
Apr ’26CA$8.16
CA$13.75
+68.50%
15.75%CA$17.00CA$11.00n/a4
Mar ’26CA$8.22
CA$13.75
+67.27%
15.75%CA$17.00CA$11.00n/a4
Feb ’26CA$8.41
CA$13.75
+63.50%
15.75%CA$17.00CA$11.00n/a4
Jan ’26CA$8.21
CA$13.75
+67.48%
15.75%CA$17.00CA$11.00n/a4
Dec ’25CA$8.59
CA$13.75
+60.07%
13.97%CA$16.00CA$11.00n/a4
Nov ’25CA$8.30
CA$13.50
+62.65%
16.97%CA$16.00CA$10.00n/a4
Oct ’25CA$8.42
CA$13.50
+60.33%
16.97%CA$16.00CA$10.00CA$12.034
Sep ’25CA$9.46
CA$14.75
+55.92%
19.40%CA$19.00CA$11.00CA$9.684
Aug ’25CA$9.25
CA$14.75
+59.46%
19.40%CA$19.00CA$11.00CA$8.734
Jul ’25CA$9.08
CA$14.75
+62.44%
19.40%CA$19.00CA$11.00CA$8.864
Jun ’25CA$9.94
CA$14.75
+48.39%
19.40%CA$19.00CA$11.00CA$8.084
May ’25CA$9.52
CA$15.10
+58.61%
17.57%CA$19.00CA$11.00CA$8.405
Apr ’25CA$9.11
CA$15.10
+65.75%
17.57%CA$19.00CA$11.00CA$8.165
Mar ’25CA$7.74
CA$15.35
+98.32%
14.91%CA$19.00CA$12.25CA$8.225
Feb ’25CA$8.39
CA$15.65
+86.53%
15.11%CA$19.00CA$12.25CA$8.415
Jan ’25CA$9.21
CA$16.30
+76.98%
10.38%CA$19.00CA$14.50CA$8.215
Dec ’24CA$7.80
CA$16.30
+108.97%
8.37%CA$18.00CA$14.50CA$8.595
Nov ’24CA$7.27
CA$16.30
+124.21%
8.37%CA$18.00CA$14.50CA$8.305
Oct ’24CA$8.27
CA$16.30
+97.10%
8.37%CA$18.00CA$14.50CA$8.425
CA$13.4
Fair Value
11.8% undervalued intrinsic discount
5
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/05 01:58
End of Day Share Price 2025/10/03 00:00
Earnings2025/07/31
Annual Earnings2025/04/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Major Drilling Group International Inc. is covered by 17 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Donangelo VolpeBeacon Securities Limited
Cosmos ChiuCIBC Capital Markets
Stephen KammermayerClarus Securities Inc.