Major Drilling Group International (MDI.TO) Stock Analysis & Winston Score

Major Drilling Group International is a contract drilling company. It sends crews and equipment to mine sites around the world to drill holes deep into the earth, helping mining companies figure out what minerals and metals are buried underground. Its main customers are gold, copper, and other metal mining companies that need this specialized drilling work done before they decide whether to build a mine. The company charges customers by the meter drilled, so revenue rises and falls with how much exploration activity is happening across the mining industry. Major Drilling operates in over 20 countries across North America, South America, Africa, Asia, and Australia, making it one of the largest specialized drilling contractors in the world. Its focus on "specialized drilling" — work that is harder, deeper, or more remote than standard jobs — gives it a slight edge over smaller competitors, but the business is highly sensitive to commodity prices, since miners cut exploration budgets quickly when metal prices drop.