TD Securities Sticks to Its Buy Rating for Geodrill

By Carrie Williams

Geodrill (TSX: GEO), the Materials sector company was revisited yesterday, and remains undervalued for at least one analyst on the street. Analyst Daryl Young from TD Securities remains bullish on the stock and has a C$3.50 price target.

According to TipRanks.com, Young is ranked #3465 out of 4702 analysts.

Geodrill has an analyst consensus of Moderate Buy, with a price target consensus of C$3.50.

Based on Geodrill’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of C$30.42 million and quarterly net profit of C$2.84 million. In comparison, last year the company earned revenue of C$25.7 million and had a net profit of C$2.48 million.

Geodrill Ltd. is a drilling company, which focuses on exploration, development, and production operations. It provides exploration and development drilling services including reverse circulation, core, air-core, directional, and water borehole drilling. The company was founded by David Harper on April 15, 1998 and is headquartered in Douglas, Isle of Man.

The company’s shares closed on Monday at C$2.05.