GMP FirstEnergy Reiterates a Buy Rating on Trinidad Drilling

By Jason Carr

Trinidad Drilling (TSX: TDG), the Materials sector company, was revisited by a Wall Street analyst today. GMP FirstEnergy’s analyst Ian Gillies reiterates their Buy rating on the shares, with a C$3 price target.

According to TipRanks.com, Gillies is ranked #4249 out of 4771 analysts.

Trinidad Drilling has an analyst consensus of Moderate Buy, with a price target consensus of C$2.49.

Based on Trinidad Drilling’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of C$134 million and GAAP net loss of C$17.69 million. In comparison, last year the company earned revenue of C$121 million and had a GAAP net loss of C$11.94 million.

Trinidad Drilling Ltd. is an industry-leading contract driller, which engages in the provision of safe, reliable, designed equipment operated by well-trained and experienced personnel. It operates through the following segments: Canadian Operations, U.S. and International Operations, Joint Venture Operations, Manufacturing Operations, and Corporate.

The company’s shares closed on Friday at C$1.94.