Trinidad Drilling Ltd. (TSE:TDG)’s share price dropped 7.2% during mid-day trading on Thursday . The stock traded as low as C$1.70 and last traded at C$1.67. Approximately 2,612,708 shares changed hands during trading, an increase of 198% from the average daily volume of 877,541 shares. The stock had previously closed at C$1.80.

TDG has been the topic of several research analyst reports. Canaccord Genuity cut Trinidad Drilling from a “buy” rating to a “hold” rating and lowered their price target for the company from C$2.50 to C$1.90 in a research report on Wednesday, August 2nd. BMO Capital Markets upgraded Trinidad Drilling from a “market perform” rating to an “outperform” rating and set a C$3.00 price target on the stock in a research report on Thursday, August 3rd. National Bank Financial lowered their price target on Trinidad Drilling from C$3.25 to C$2.60 in a research report on Thursday, August 3rd. Raymond James Financial, Inc. lowered their price target on Trinidad Drilling from C$3.80 to C$2.80 and set a “speculative buy” rating on the stock in a research report on Tuesday, August 22nd. Finally, Royal Bank Of Canada lowered their price target on Trinidad Drilling from C$3.50 to C$3.00 and set an “outperform” rating on the stock in a research report on Friday, October 6th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Trinidad Drilling presently has an average rating of “Hold” and a consensus target price of C$2.46.

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Trinidad Drilling Company Profile

Trinidad Drilling Ltd. is a Canada-based company, which operates in the drilling sector of the North American oil and natural gas industry, with operations in Canada and the United States. The Company operates through five segments, which include Canadian Operations, US and International Operations, Manufacturing Operations, Joint Venture Operations and Corporate.

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