Major Drilling Ownership
| MDI Stock | CAD 7.70 0.06 0.77% |
Shares in Circulation | First Issued 1997-03-31 | Previous Quarter 81.8 M | Current Value 82 M | Avarage Shares Outstanding 66.6 M | Quarterly Volatility 18.8 M |
Major |
Major Stock Ownership Analysis
About 42.0% of the company shares are owned by institutional investors. The company has price-to-book ratio of 1.17. Typically companies with comparable Price to Book (P/B) are able to outperform the market in the long run. Major Drilling Group last dividend was issued on the 7th of October 2015. The entity had 3:1 split on the 21st of March 2011. Major Drilling Group International Inc. provides contract drilling services for mining and mineral exploration companies in Canada, the United States, Mexico, South America, Asia, Africa, and Europe. The company was founded in 1980 and is headquartered in Moncton, Canada. MAJOR DRILLING operates under Other Industrial Metals Mining classification in Canada and is traded on Toronto Stock Exchange. It employs 2500 people. To find out more about Major Drilling Group contact Denis Larocque at 506 857 8636 or learn more at https://www.majordrilling.com.Major Drilling Outstanding Bonds
Major Drilling issues bonds to finance its operations. Corporate bonds make up one of the largest components of the U.S. bond market, which is considered the world's largest securities market. Major Drilling Group uses the proceeds from bond sales for a wide variety of purposes, including financing ongoing mergers and acquisitions, buying new equipment, investing in research and development, buying back their own stock, paying dividends to shareholders, and even refinancing existing debt. Most Major bonds can be classified according to their maturity, which is the date when Major Drilling Group has to pay back the principal to investors. Maturities can be short-term, medium-term, or long-term (more than ten years). Longer-term bonds usually offer higher interest rates but may entail additional risks.
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Pair Trading with Major Drilling
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Major Drilling position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Major Drilling will appreciate offsetting losses from the drop in the long position's value.Moving against Major Stock
| 0.67 | FDY | Faraday Copper Corp | PairCorr |
| 0.55 | AG | First Majestic Silver | PairCorr |
| 0.51 | VZ | Verizon Communications | PairCorr |
| 0.48 | BRK | Berkshire Hathaway CDR | PairCorr |
| 0.33 | INFM | Infinico Metals Corp | PairCorr |
The ability to find closely correlated positions to Major Drilling could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Major Drilling when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Major Drilling - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Major Drilling Group to buy it.
The correlation of Major Drilling is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Major Drilling moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Major Drilling Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Major Drilling can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Other Information on Investing in Major Stock
Major Drilling financial ratios help investors to determine whether Major Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Major with respect to the benefits of owning Major Drilling security.