Is Trinidad Drilling Ltd. a Buy? The Stock Rises Again

 Is Trinidad Drilling Ltd. a Buy? The Stock Rises Again

The stock of Trinidad Drilling Ltd. (TSE:TDG) is a huge mover today! About 160,650 shares traded hands. Trinidad Drilling Ltd. (TSE:TDG) has risen 26.70% since April 27, 2016 and is uptrending. It has outperformed by 20.77% the S&P500.
The move comes after 6 months positive chart setup for the $756.58M company. It was reported on Dec, 1 by Barchart.com. We have $3.10 PT which if reached, will make TSE:TDG worth $45.39M more.

Trinidad Drilling Ltd. (TSE:TDG) Ratings Coverage

Out of 7 analysts covering Trinidad Drilling Ltd. (TSE:TDG), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. $6 is the highest target while $2 is the lowest. The $3.57 average target is 22.26% above today’s ($2.92) stock price. Trinidad Drilling Ltd. has been the topic of 34 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Tuesday, June 28 by Paradigm Research. The rating was upgraded by Raymond James to “Strong Buy” on Wednesday, November 18. National Bank Canada downgraded the shares of TDG in a report on Friday, November 4 to “Sector Perform” rating. Scotia Capital maintained it with “Sector Perform” rating and $2 target price in Tuesday, June 28 report. Scotia Capital maintained it with “Outperform” rating and $5.25 target price in Wednesday, August 5 report. Scotia Capital maintained it with “Sector Perform” rating and $3 target price in Friday, November 4 report. The stock of Trinidad Drilling Ltd. (TSE:TDG) earned “Sector Perform” rating by Scotia Capital on Friday, October 9.

More news for Trinidad Drilling Ltd. (TSE:TDG) were recently published by: Marketwired.com, which released: “Trinidad Drilling Ltd. Announces Amendments to Its Credit Facility and Debt …” on June 27, 2016. Business.Financialpost.com‘s article titled: “Trinidad Drilling Ltd. and CanElson Drilling Inc. merger gives scale in …” and published on June 11, 2015 is yet another important article.

Trinidad Drilling Ltd. is a Canada-based company, which operates in the drilling sector of the North American oil and natural gas industry, with activities in Canada and the United States. The company has a market cap of $756.58 million. The Firm operates through five divisions, which include Canadian Operations, US and International Operations, Manufacturing Operations, Joint Venture Operations and Corporate. It currently has negative earnings. The Canadian Operations segment is engaged in providing land drilling services to the Canadian gas and oil industry.

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