Trinidad Drilling Gets a Hold Rating from BMO Capital

By Ryan Adsit

Trinidad Drilling (TSX: TDG), the Materials sector company, has received a rating update from a Wall Street analyst on June 22. Analyst Michael Mazar from BMO Capital rated Trinidad Drilling (TSX: TDG) a Hold on on June 22, setting a C$3 price target.

According to TipRanks.com, Mazar is a 3-star analyst with an average return of 4.1% and a 46.4% success rate. Mazar covers the Basic Materials sector, focusing on stocks such as Precision Drilling, Trinidad Drilling, and Ivanhoe Energy.

Trinidad Drilling has an analyst consensus of Strong Buy, with a price target consensus of C$3.82.

Trinidad Drilling’s market cap is currently C$517.5M and has a P/E ratio of 0.

Trinidad Drilling Ltd. operates in the drilling of oil and natural gas resources sector. The company operates through four operating segments: Canadian Operations; U.S. & International Operations; Joint Venture Operations; and Corporate. The Canadian Operations segment includes land drilling services. The U.S. & International Operations segment includes land drilling services located in both the U.S. and international markets, excluding all joint venture operations. The Joint Venture Operations segment includes all international joint venture operations. The Corporate segment includes all non-operating activities and acts as a support function to the other segments. The company was founded by Michael E. Heier on February 23, 1996 and is headquartered in Calgary, Canada.,07514F-E

The company’s shares closed last Friday at $1.92, close to its 52-week low of $1.77.