Trinidad Drilling Ltd. (TSE:TDG) was up 2.5% during trading on Friday . The stock traded as high as C$1.64 and last traded at C$1.62. Approximately 398,178 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 631,767 shares. The stock had previously closed at C$1.58.
Several equities research analysts have commented on TDG shares. Scotiabank downgraded shares of Trinidad Drilling from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from C$3.25 to C$2.50 in a research note on Friday, November 10th. National Bank Financial downgraded shares of Trinidad Drilling from an “outperform market weight” rating to a “sector perform overweight” rating in a research note on Thursday, November 9th. CIBC lowered their target price on shares of Trinidad Drilling from C$2.75 to C$2.50 in a research note on Friday, October 20th. Raymond James Financial upped their target price on shares of Trinidad Drilling from C$2.20 to C$2.35 and gave the company an “outperform” rating in a research note on Monday, December 18th. Finally, TD Securities downgraded shares of Trinidad Drilling from a “buy” rating to a “hold” rating and lowered their target price for the company from C$2.25 to C$2.00 in a research note on Thursday, November 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Trinidad Drilling presently has a consensus rating of “Buy” and a consensus target price of C$2.47.
The company has a market cap of $432.06, a P/E ratio of -5.86 and a beta of 1.37.
Trinidad Drilling Company Profile
Trinidad Drilling Ltd. is a Canada-based company, which operates in the drilling sector of the North American oil and natural gas industry, with operations in Canada and the United States. The Company operates through five segments, which include Canadian Operations, US and International Operations, Manufacturing Operations, Joint Venture Operations and Corporate.
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